Mexico: Growth Rate Cut

Mexico’s central bank said the country’s economy will likely grow 3.75 percent this year, down from 4.0 percent predicted earlier this month. The lowered projection is due to slower economic growth in the US and lost market share of Mexican exports in the US, said Banco de Mexico´s chief economist Manuel Ramos Francia. The US buys 85 percent of Mexican exports. The bank repeated its forecast that the overall inflation rate will slow to less than 4 percent by year-end from 4.3 percent in June.