Analysts cut Mexico's GDP forecast for the ninth time

Private sector analysts cut Mexico's growth forecast from 2.9% to 2.7%, according to the results of the monthly survey conducted by the Bank of Mexico.

This is the ninth consecutive cut.

They also cut 2016 growth expectations from 3.4 to 3.3%, the fifth cut in a row.

The survey also revealed that 25% of the participants consider insecurity as the main hurdle to growth, followed by the decreasing oil production (16%) and the weakness of the external market and the global economy (12%).