Waiting for the Plan

MEXICO - Report 30 Jul 2013 by Mauricio Gonzalez, Esteban Manteca and Carlos Noriega
Executive Summary Early in the week the United Nation’s Economic Commission for Latin America and the Caribbean (ECLAC) downwardly adjusted its growth estimates for the current year for Mexico (from 3.5% to 2.8%) and for other countries in the region. Combined with the lowered forecast for Brazil (from 3% to 2%), these new numbers implied a lowering of the growth forecast for Latin America and the Caribbean by half a percentage point. On Friday, Banco de México published the minutes of its July review of monetary policy, in which the authorities noted that the economic slowing of the first ...

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