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Citibanamex lowers Mexico 2017 GDP to 1.9 pct due to quake
September 21, 2017 / 11:44 PM / 3 months ago

Citibanamex lowers Mexico 2017 GDP to 1.9 pct due to quake

MEXICO CITY, Sept 21 (Reuters) - Citigroup Inc’s local unit on Thursday lowered its 2017 Mexico gross domestic product (GDP) forecast to 1.9 percent from 2.0 due to the impact of a massive earthquake that leveled buildings in the capital, the country’s economic heartland.

Citibanamex said in a client note that its estimate was conservative, adding it expects an uptick in economic growth in the third and fourth quarters of 2017 to counter the impact of Tuesday’s 7.1 magnitude tremor.

Reporting by Gabriel Stargardter and Sharay Angulo

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