Bank of Mexico drops 2017 growth forecast to 1.3-1.5 pct

Published March 16, 2017

Mexico's central bank is lowering its 2017 economic growth forecast for the country to between 1.3 percent and 1.5 percent.

The Bank of Mexico says that's down from its previous prediction of 1.5 percent to 2.5 percent.

It says in a statement that while there is still uncertainty over what policies U.S. President Donald Trump's administration will adopt toward Mexico, its proposals "already tend to signal that to a certain degree it will take actions that obstruct relations between the two countries."

The bank said Wednesday that the new forecast factors in "deterioration in the commercial flow expected between Mexico and the United states and less direct foreign investment than previously foreseen."

The U.S. is by far Mexico's largest trade partner, buying about 80 percent of its exports.

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https://www.foxnews.com/world/bank-of-mexico-drops-2017-growth-forecast-to-1-3-1-5-pct