Bank of Mexico cuts growth forecasts for 2017 due to earthquakes

Agustín Carstens
Bank of Mexico

The Bank of Mexico has cut its growth forecast for 2017 due to the major earthquakes that claimed hundreds of victims in central and southern Mexico on September 19.

The quarterly economic report of the central bank estimates the Mexican economy will expand between 1.8% and 2.3% in 2017, down from 2–2.5% three months ago. The revision was triggered “in good measure by the effects of the September earthquakes”, the report says.

However, the Bank of Mexico expects the impact to be “moderate and

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