Barclays Chops Mexico Forecast

Barclays Chops Mexico Forecast

Funds

Barclays has lowered its expectations for Mexico’s GDP to a 6.0% contraction this year, in line with a recent forecast from Credit Suisse. Previously, Barcap had expected the economy to contract by 4.6%. It does expect to see a rebound in 2010, with GDP expanding by 4.2%, more than the 2.3% expansion anticipated by Credit Suisse. “Our growth forecast is consistent with tax revenue underperformance in 2009 of approximately 0.4% of GDP, relative to Hacienda’s latest projections,” the shop says. “O

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