Mexico's Banxico downgrades 2024 economic growth forecast to 1.5% from 2.4% due to inflation, low investment, and supply chain disruptions.

Mexico's Central Bank, Banxico, has downgraded its economic growth forecast for 2024 to 1.5% from 2.4% and anticipates a 1.2% growth in 2025, down from 1.5%. The bank attributes the current economic weakness to ongoing issues, including inflation, low investment growth, and international supply chain disruptions. The forecasts also factor in a more cautious outlook for global economic growth, the risks of higher interest rates, and the challenges posed by the pandemic.

August 28, 2024
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