The central bank chief calls it a “temporary pothole.”
Whatever the term, Mexico’s economy has hit some turbulence – despite the most ambitious overhaul to its business structure in decades.
Tax hikes have dampened consumer confidence, retail sales remain stagnant, and low U.S. demand for Mexican-made cars and televisions slowed the economy earlier this year to its lowest point in four years. Mexico grew at a sluggish 1.8 percent rate in the first quarter of 2014, forcing the government to ratchet down its forecast to 2.7 percent growth for the year.
Bankers and economists still voice . . .
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