Bank of Mexico trims growth forecast for 2014

Bank of Mexico

The Bank of Mexico cut its growth forecast for 2014 after a "sharp slowdown" early in the year proved a greater drag on the economy than the bank previously anticipated.

The central bank revised down its annual growth forecast from between 2.3% and 3.3%, to between 2% and 2.8% in its quarterly report for April to June, noting that economic activity registered "lower performance than initially anticipated" in the first quarter, thereby contributing to more slack in the economy "than that foreseen

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