IMF cuts Mexico's growth estimate for 2014

The International Monetary Fund cut its economic growth forecast for Mexico this year to 2.4 percent, down from a previous estimate of 3 percent.

The Fund said the cut came as a result of a weaker construction industry and a slower recovery of the U.S. economy.

But for 2015, the Fund maintained its forecast for Mexico's economy at 3.5 percent.

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