Mexico Cuts Growth Forecast to 1.8% as Exports to U.S. Slow

Mexico’s government slashed its growth forecast for this year as exports to the U.S. stagnate, reviving speculation of a second interest rate cut this year.

Mexico’s economy will expand 1.8 percent this year, down from a previous forecast of 3.1 percent, deputy Finance Minister Fernando Aportela told reporters in Mexico City. The revision came hours after the National Statistics Institute said the economy grew less than analysts forecast in the second quarter.