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Banxico: Consumer credit growth slows to 8.7%

Consumer credit granted by commercial banks in Mexico grew by 8.7% in December 2016, according to Banco de México, the country's central bank.

This is the lowest growth rate in over a year, according to the bank.

In a press release Jan. 31, the bank also announced that the portfolio of the commercial banking private sector showed an annual growth of 11.5% in December 2016, while housing loans increased 7.1% year over year.