MEXICO CITY Oct 6 Ratings agency Fitch
downgraded its growth forecast for Mexico on Thursday, lowering
estimates for the expansion of Latin America's second-largest
economy in both 2016 and 2017.
Fitch expects 2016 growth to reach 2.0 percent, from an
earlier forecast of 2.4 percent, and sees 2017 growth at 2.6
percent, from a previous estimate of 2.8 percent, the agency
said in a statement.
The ratings agency said that the downward revision follows
an 0.2 percent contraction in second quarter of this year.
"An accelerated reduction of oil production, the increase in
the level of international volatility ... as well as lower
industrial sector performance in the U.S. pose risks on the
downside of this forecast," the agency said.
(Reporting by David Alire Garcia; Editing by Meredith Mazzilli)