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Mexico’s Forecasted Growth is Lowered for 2013
Mexico’s economy will likely expand at a clip of between 0.9 percent and 1.4 percent in 2013, according to the central bank, which had earlier projected GDP growth of between 2 percent and 3 percent.
The latest range given Wednesday by the Banco de Mexico is lower than the growth estimate of 1.7 percent provided by President Enrique Peña Nieto’s administration, which had revised its figures in the wake of two hurricanes in September.
The central bank’s governor, Agustin Carstens, also cut the growth forecast for 2014 from a range of between 3.2 percent and 4.2 percent to between 3 percent and 4 percent.
Projected growth for 2015, however, was left unchanged at between 3.2 percent and 4.2 percent.
The central bank said it expected annual inflation to end this year and next year at 3.5 percent and estimated that between 400,000 and 500,000 new jobs would be created in 2013 and between 620,000 and 720,000 new jobs in 2014.
Among possible economic risks, Carstens mentioned slower growth in the United States, financial market volatility and the possibility that reform proposals being studied by Mexico’s Congress, including a historic energy-overhaul bill, are not approved.
Published in Latino Daily News
Source: http://www.hispanicallyspeakingnews.com/latino-daily-news/details/mexicos-forecasted-growth-is-lowered-for-2013/27889#When:21:04:51Z
