Mexico's economy to be impacted by U.S. recession in 2023, says BofA

MEXICO CITY, Jan. 20 (Xinhua) -- Mexico's economy may follow its biggest trading partner, the United States, into recession this year, with the former's trade and remittances impacted, the Bank of America (BofA) said Friday.

Mexico's gross domestic product (GDP) is projected to grow by 0.3 percent in 2023, an upgrade from the 0.5 percent contraction projected earlier, the bank forecasts.

BofA also expects