NEW YORK: Mexico’s economic growth in the first quarter of the year is being affected by slower growth in the United States and by poor weather, Mexico Central Bank Governor Agustin Carstens said.
“We have had slower-than-expected growth in the first quarter but I think to a large extent it is also correlated with slower growth in the US and a lot of it is because of the weather,” he said, speaking to gathering of The Economic Club of New York.
He said emerging markets need to be ready to deal with the consequences of higher interest rates in the US and other developed nations. Carstens said the forecast for 2014 remains between 3 and 4 percent. “We will revise our forecast in the next inflation report that we will issue in May. So right now we don’t have any other figures,” he said. Reuters
