ECLAC cuts Mexico's 2015 growth forecast to 2.4%

The Economic Commission for Latin America and the Caribbean (ECLAC) cut its 2015 growth estimate for Mexico from 3% in April and 3.2% in late 2014 to 2.4%.

It also reduced its growth forecast for the region to 0.5% from a previous 1%.

In a video conference Alicia Bárcena, Executive Secretary of ECLAC, said that the economic slowdown is due to external and internal factors, such as the slow growth of the world economy in 2015 and the slowdown in China and other emerging economies.

The ECLAC added that the unemployment rate in the region is expected to rise from 6% to 6.5%.