May 19, 2020 / 5:53 PM / 8 days ago

Goldman Sachs cuts Brazil 2020 GDP forecast to -7.4%, Mexico to -8.5%

BRASILIA, May 19 (Reuters) - Economists at Goldman Sachs have slashed their Latin American economic outlook due to the coronavirus outbreak, and now expect Brazil’s gross domestic product to shrink by 7.4% this year and Mexico’s by 8.5%.

That compares with previous forecasts of 3.4% and 5.6% contractions, respectively, and will drive a downturn of 7.6% across Latin America’s seven main economies, they said in a note on Tuesday. (Reporting by Jamie McGeever)

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