Fitch Ratings is set to revise its forecast for Mexico’s economy, predicting a “mild contraction” for the year. This updated outlook reflects improved prospects compared to its earlier projection of a 0.4% economic decline made in April. Shelly Shetty, a managing director at Fitch Ratings, stated in an interview with Bloomberg News that the downturn will be partially offset by better-than-expected economic conditions in the US. While the revised forecast indicates improvement, it still anticipates a recession, though less severe than initially estimated.
— News Original —
Fitch to Revise Mexico Economy Forecast to ‘Mild’ Recession
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The 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.
Shelly 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.
— news from Bloomberg