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Analysts Lower Mexico GDP Expectations To 2.1 Pct For 2017
 

Economic specialists consulted by Mexico's central bank, Banxico, lowered their 2017 GDP expectations from 2.15 to 2.1 percent, the institution announced Monday.

They also revised their 2018 expectations downward from 2.4 to 2.3 percent, with 36 financial consultancies participating in the monthly poll.

This poll was taken between Sept. 19-28, after two strong quakes shook the country on Sept. 7 and 19, leaving at least 461 dead and damages worth at least 2 billion U.S. dollars.

On Sept. 28, Banxico also issued a statement about its monetary policy, stating its conclusion that the earthquakes would not have a major impact on economic growth and inflation.

The analysts said that a number of factors could slow down economic growth in the next six months, including public insecurity, uncertain internal politics, low oil production, the weakness of the Mexican market and inflationary pressures.

In terms of inflation, the experts raised their prediction to 6.3 percent in 2017, up from 6.25 percent in the August poll. Banxico is aiming to keep inflation within three percent.

Finally, in terms of foreign exchange, the experts lowered their expectations for the peso from 18.2 to 18.05 pesos per U.S. dollar.

On August 30, the central bank raised its GDP expectations for this year to 2-2.5 percent, up from 1.5-2.5 previously.

Mexico, Latin America's second-largest economy, grew by 2.3 percent in the first half of the year.


(www.chinaview.cn 2017-10-09)
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