Still Below Consensus On Growth For 2012

BMI View: We are now forecasting real GDP growth of 3.8% for Mexico in 2011, revised down from 4.1%, in response to slowing global growth which we believe will reverse nascent private consumption and investment growth. Since we expect these factors to continue to weigh on growth through 2012 we are happy to stick with a below consensus growth forecast of 3.1% for 2012.

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