September 25, 2013 / 12:41 AM / 4 years ago

Mexico economic slowdown temporary - Carstens

MEXICO CITY, Sept 24 (Reuters) - A slowdown in Mexico’s economy, which contracted in the second quarter for the first time in four years, is temporary, Central Bank Governor Agustin Carstens said on Tuesday, forecasting growth would recover to levels of around 3 percent in 2014.

Mexico’s central bank unexpectedly lowered borrowing costs earlier this month to counter a slump in growth, and many analysts expect a further cut in October after some of the worst storm damage in decades buffeted the economy.

After growth contracted in the second quarter, the government slashed its growth outlook to 1.8 percent this year from a previous 3.1 percent estimate.

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