Mexican GDP pushed down because of Brexit

Experts questioned by the Bank of Mexico reduced their expectations for the growth of the Mexican economy to 2.40% and are expecting the U.S. dollar to get to 18.31 pesos due to the international financial instability.

During Banxico's June survey, the whole picture for business in the country went darker for the experts, with 31% thinking that the business environment in the country will turn worse during the next six months, from 16% in the previous survey. Also, 61% of the experts say that this is not a good moment for investors.

The survey was conducted between June 16 and 29, in the middle of the shockwaves generated by the Brexit referendum, where Great Britain decided to leave the European Union.

Due to that situation, most experts expect that the Mexican GDP will fall from 2.45% to 2.40% by the end of the year, and from 2.80% to 2.70% by 2017.

Also, they expect more pressure over the Mexican peso and see the U.S. dollar rising from $17.94 to $18.31. By next year they expect it to stabilize around 18 pesos.