Mexico's economic growth expectations are reduced after earthquakes

In a statement, Banxico reported that 2017 forecast dropped at 2.10% compared by the expected 2.15%
Photo: File photo/EL UNIVERSAL
02/10/2017
15:29
Leonor Flores
Mexico City
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After Mexico was struck by two devastating earthquakes, an 8.2-magnitude quake on Thursday, September 7, followed by a 7.1-magnitude quake on Tuesday, September 19, last month, the analysts surveyed by the Mexico's Central Bank (Banco de México abbreviated Banxico), reduced their expectations for 2017 and 2018 in terms of economic growth.

In a statement, Banxico reported that 2017 forecast dropped at 2.10% compared with the expected 2.15% while 2018 forecast was adjusted from an estimated 2.40% to 2.30%.

The survey was conducted between September 19 and September 28, taking into account the aftermath of the earthquakes resulting in an economy downward adjustment and an inflation rise.

The analysis is anticipating higher inflation for this year as well, 6.30% compared with the 6.25% of the previous survey.

2018 inflationary prevention decreased slightly from 3.80% to 3.79%.

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