Workers assemble an automobile at a plant in Cuautitlan, Mexico. (Photo: EFE/File)
MEXICO CITY, Sept 9.- Mexico’s industrial production ticked up for the third month in a row in July, growing a bit faster than expected as factory output rose by the most in nearly a year, data showed on Friday September 9.
Mexican industrial output rose 0.3 percent in July from June in seasonally adjusted terms, the national statistics agency INEGI said, compared with expectations for 0.1 percent increase in a Reuters poll.
Mexico’s economy shrank in the second quarter for the first time in three years, due largely to a slump in industrial output.
Uneven demand for Mexican manufactured exports in the United States, Mexico’s top trading partner, and declining oil production have weighed on Latin America’s No. 2 economy.
Among components of industrial production, factory output rose 0.8 percent, its fastest expansion since last August. Mexico sends mostly factory-made goods like televisions and cars to its northern neighbor and automobile exports have been stronger than many other goods this year.
The utilities sector, which includes power, gas and water distribution, expanded by 0.4 percent in July. But construction fell 0.3 percent in July versus June while mining, which includes oil production, was down for the sixth month in a row, dropping 0.4 percent.
Despite the recent uptick in monthly data, industrial production was down 1.0 percent year-over-year, the
biggest drop since March, compared with expectations for flat growth.
(Reporting by Michael O’Boyle Editing by W. Simon for Reuters)
Source: www.reuters.com
Comments
more recommended stories
Yucatán stands out at the 2019 Mexbest AwardsAfter an evaluation of 150 restaurants.
Scientists say too much tourism is fueling mysterious disease killing the Caribbean’s coralsThe breathtaking reds, yellows and purples.
Cases of animal cruelty continue on the rise all over the YucatanRescuers of stray dogs in the.
Mexico makes arrests in last week’s massacre of 3 women, 6 childrenMexico has made an unspecified number.
Sustainable “Cenote Diving” Festival looks to boost economy and create awareness in YucatanYUCATAN (Times Media Mexico).- Sustainable development and.
Elephants dying amidst severe drought in ZimbabweZIMBABWE (News Agencies) — More than.
Evo Morales landed in Mexico CityThe former president of Bolivia, Evo.
Cold front number 12 will hit the Yucatan PeninsulaOn Tuesday November 12th, Cold Front.
“Pasaje Picheta” reopens its doors to the public“The area known as Pasaje Gabriel.
Two bomb threats at the Cancun airport in one weekFor the second time in less.
Leave a Comment