The Mexican government lowered its estimate for economic growth for this year, forecasting gross domestic product to expand between 2.1% and 2.6%, compared with its previous estimate of 2.7%, Deputy Finance Minister Fernando Aportela said, Dow Jones Business News reported.
Aportela told a news conference the ministry expects growth to be between 3.2 percent and 4.2% in 2015.
The revision, which includes the introduction of a forecast range, followed the release of third-quarter data showing GDP up 2.2 percent from the year-earlier period and up 1.9 percent in the first nine months of the year.
Aportela said the government expects lower crude-oil production to shave 0.4 percentage point off overall growth this year. The country’s crude output fell to 2.4 million barrels a day in the third quarter from 2.5 million a year ago.
He said data for October and November, such as private-sector job creation, new-car sales and retail sales, show promise for a strong fourth quarter.
