Fitch Ratings is set to revise its economic forecast for Mexico, predicting a “mild contraction” this year, according to Shelly Shetty, a managing director at the credit rating agency. The updated forecast, which will be released on Thursday, reflects an improvement from the previous estimate of a 0.4% economic shrinkage made in April. Shetty noted that better-than-expected economic prospects in the United States have partially offset Mexico’s downturn. While the revised forecast indicates a less severe contraction, it still anticipates a recession. Bloomberg, known for connecting decision-makers to a dynamic network of information, people, and ideas, continues to deliver accurate business and financial news globally.
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Fitch to Revise Mexico Economy Forecast to ‘Mild’ Recession
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world n nConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world n nThe Mexican economy will likely suffer a “mild contraction” this year, but less than previously estimated while the downturn is partially offset by better-than-expected prospects in the US, a senior Fitch Ratings executive told Bloomberg News. n nShelly Shetty , a Fitch Ratings managing director, explained in an interview that the credit rating agency will revise its April forecast that Mexico’s economy will shrink 0.4% this year when it releases its updated global economic forecasts on Thursday. While the revised forecast has improved, she said without providing the precise figure, it still sees the economy tipping into recession.
