LatinNews Daily - 04 September 2023

In brief: Private sector raises growth forecast in Mexico

* Economic analysts surveyed by Mexico’s central bank (Banxico) have raised their 2023 GDP growth forecast for Mexico from 2.59% in a previous (July) survey to 3.04%. The analysts also raised their GDP forecast for 2024, from 1.49% to 1.66%. The same survey also showed a slight increase in inflation forecasts for this year, with analysts predicting that inflation would end the year at 4.66% (up from 4.63%) and core inflation would stand at 5.24% (up from 5.20%). This comes after Banxico also raised its own GDP growth forecast in its quarterly report for the second quarter of the year, predicting GDP to grow by 3% in 2023, up from a previous forecast of 2.3%.

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