Mexico’s Finance Ministry has lowered its growth forecast for 2019 to 1.1pc as evidence mounts that Latin America’s second-largest economy is falling short of the government’s expectations.
In an update on the country’s budget, the ministry said it had cut the forecast from a prediction of 2pc made when the government presented the budget in December, reports Reuters.
A preliminary estimate published by the national statistics agency on Wednesday showed that Mexico’s economy expanded by 0.1pc in the April-June period from the previous quarter, narrowly escaping a recession.
