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Business

Concamin Reduces Growth Forecast

Manuel Herrera Vega, president of the agency, said employment is also expected to be lower

Manuel Herrera Vega Concamin, photo: Capital Media/Rosalba Amezcua
By Rosalba Amezcua Whatsapp Twitter Facebook Share
1 year ago

The Confederation of Industrial Chambers (Concamin) reduced their national growth forecasts to 1.7 and 2.2 percent from a previous estimate of 2.5 and 3.5, and a drop in the industrial sector to 1 percent from a previous projection of 2 percent.

Manuel Herrera Vega, president of the agency, said employment is also expected to be lower due to complications in areas such as construction, automotive, electrical and electronic sectors, derived from the nature of the global economy and the impact of budget cuts on public investment in infrastructure and goods and services by the federal and state governments.

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