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Mexico cuts economic growth outlook

Thursday, November 7, 2013

Mexico's central bank lowered its growth projections for the economy, saying that weaker public spending, fragile construction sector and an uncertain external environment dampened outlook.

In its latest inflation report released, the Banco de Mexico slashed its gross domestic product forecast for 2013 to between 0.9 and 1.4 percent, down from a previous 2 to 3 percent.

The outlook for 2014 was also lowered, from between 3.2 and 4.2 percent, to 3 and 4 percent.

Source: RTT News