Mexico: Growth Forecasts Cut

JPMorgan Chase, Credit Suisse First Boston, Santander Central Hispano and ING Groep all cut their forecasts for Mexican growth this year after a government report showed the economy expanded less than expected in the second quarter. JPMorgan reduced its growth forecast to 2.4 percent, Credit Suisse First Boston cut its forecast to 3 percent and Santander lowered its estimate to 3.2 percent. ING cut its estimate to 2.8 percent. The Mexican economy shrank a seasonally adjusted 0.4 percent in the second quarterr.