8/20/15 CNBC World Economy
“Another disappointing year” looms for Mexico, with growth hit by the rout in the oil price and falling crude production, amid concerns as to the impact of the upcoming U.S. Federal Reserve interest rate hike.
The country will post its second quarter gross domestic product (GDP) figure later on Thursday and will be closely watched especially after the Mexican central bank lowered its growth forecast for 2015 for a fourth time last week, to between 1.7 percent and 2.5 percent.
The oil rout has hurt Mexico, whose top export is crude petroleum. Light crude hit a six-and-a-half-year-low on Thursday of $40.21 and a dip below $40 seems possible for the first time since 2009.