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IMF Revise Latin America GDP Downward at 2.7 percent

 (Image source: Yale University)

According to the IMF, slow down in the biggest two economies (U.S. and China) is having a negative affect on Latin Americas' outlook. As a result, it has cut the GDP forecast for the region by .7 percentage point for the year. Previous, the IMF estimated GDP growth of 3.4 percent for the region. For the current period, Mexico has the lowest GDP forecast among the region pegged at 1.2 percent. Obviously Mexico is closest to the effects of a U.S. slowdown. However, the IMF growth estimates for 2014 is significantly better.