Private analysts lower Mexican economy growth forecast in 2019

Source: Xinhua | 2019-08-02

Private analysts lowered their 2019 growth forecast for the Mexican economy from 1.1 percent to 0.8 percent, the country's central bank reported on Thursday.
The Bank of Mexico (Banxico) survey also adjusted downward the gross domestic product (GDP) growth forecast for 2020 from 1.7 percent to 1.5 percent, and anticipated a lower exchange rate and a lower inflation.
Inflation is expected to reach a 3.66 percent level by the end of 2019, less than the 3.7 percent estimated in the previous survey.
By 2020, the specialists consulted believe that inflation will reach a 3.6 percent level, less than the 3.63 predicted previously.
Analysts also expect an exchange rate at the end of the year of 19.70 pesos per dollar compared to the 19.78 pesos per dollar calculated in June.
During the last months, many organizations and institutions have cut their economic growth forecast for Mexico given an internal and external environment of uncertainty.
In 2018, the Mexican economy, the second largest in Latin America after Brazil, grew 2 percent.
The survey was conducted between July 22 and 30 to specialists from 36 economic analysis and consulting groups from the national and foreign private sector.