MEXICO CITY, Nov 21 (Reuters) - Mexico’s finance ministry on Friday lowered it 2014 growth forecast after weaker than expected third quarter growth data.
The finance ministry said it now saw the economy growing between 2.1 percent and 2.6 percent in 2014, down from its previous 2.7 percent forecast. It is the second time this year the ministry has cut its outlook.
The revision is in-line with analysts projections for a 2.3 percent expansion this year. The ministry said it expects the economy to grow between 3.2 percent and 4.2 percent next year.
Mexico’s economy slowed in the third quarter due to weakness in domestic demand and uneven industrial output which has dragged on a recovery that is now threatened by rising social unrest. (Reporting by Michael O‘Boyle)