MEXICO CITY, April 1 (Xinhua) -- Mexico's economic growth is estimated at 0.50 percent this year, down from previously predicted 0.81 percent, according to a survey released Tuesday by the private-sector analyst Central Bank of Mexico (Banxico).

The Banxico also lowered Mexico's growth forecast next year to 1.60 percent, down from an earlier forecast of 1.70 percent.

The figures reflect the median forecast of the survey by 42 analysts carried out on March 18-27.

Mexico's economy, the second largest in Latin America after Brazil, slowed to 1.5 percent last year, according to the most recent official figures.

The central bank's survey also showed a slight improvement in terms of its domestic inflation this year, which may be reduced to 3.70 percent, down from its earlier forecast of 3.71 percent.

Regarding the Mexican peso, analysts consulted by the bank expect the local currency to trade at 20.80 pesos to the U.S. dollar at the end of this year.

The peso has seen high volatility against the U.S. dollar in the wake of U.S. President Donald Trump's threats to impose tariffs as part of his new trade policy.