Mexico: Growth Forecasts Cut

JPMorgan, Bear Stearns and Credit Suisse First Boston cut their forecasts for Mexico’s 2005 economic growth Wednesday, a day after the government said first quarter gross domestic product grew 2.4 percent, the slowest pace in a year. JPMorgan reduced its growth outlook to 3.2 percent from 4 percent, Bear Stearns cut its forecast to 3.4 percent from 4 percent and Credit Suisse lowered its estimate to 3.7 percent from 4.4 percent. Mexico’s Finance Ministry forecasts 3.8 percent economic growth this year.