November 22, 2017 / 7:10 PM / a year ago

Mexico cenbank says earthquakes, oil output crimp 2017 growth

MEXICO CITY, Nov 22 (Reuters) - Mexico’s central bank on Wednesday revised down its economic growth forecast for this year, citing the impact of two major earthquakes in September and a drop in oil production to the lowest level in more than 20 years.

In its latest inflation report, the central bank said the economy would grow between 1.8 and 2.3 percent in 2017, down from the 2.0-2.5 percent forecast in the prior quarterly report.

For 2018, the central bank predicted growth of between 2 and 3 percent, unchanged from the previous forecast.

Inflation will show a moderate downward movement at the end of this year and will slow faster next year, the report said. (Reporting by Mexico City Newsroom; Editing by Dave Graham)

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