Fri, 29 Jun 2012 08:09:32 GMT
HSBC lowered growth outlook for Latin American countries
HSBC reduced its growth forecast for Latin American countries, citing falling commodity prices and weak performance of Brazil. The bank cut its GDP expansion outlook for 2012 for Latin American block from 3.8% to 3.2%. Meanwhile Brazilian growth outlook for this year was lowered from 3.2% to 2.5% whereas Mexican GDP was maintained at 3.4% this year, HSBC added.