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Mexico cuts growth forecast to 1.3 percent

November 21, 2013

MEXICO CITY (AP) — The Mexican government has again lowered its forecast for the nation’s economic growth this year to 1.3 percent, after the National Statistics Institute announced the country’s GDP expanded only 1.3 percent in the second quarter of 2013, compared to the same quarter of 2012.

That’s down from the 3.5 percent full-year growth prediction issued earlier this year.

But the third-quarter growth was higher than the 1 percent predicted by the Finance Department. And the Statistics Institute revised second-quarter growth in GDP to 1.6 percent, from earlier estimates of 1.5 percent.

The Finance Department said Thursday that growth should increase in the fourth quarter, to about 1.7 percent.

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