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
Tourists leave more garbage than economic benefits in El Cuyo, YucatánThe garbage left by visitors in.
Suspect of Canadian citizen’s murder arrestedMOTUL Yucatan (SSP). – Agents of.
Earth Day 2019: humans are killing the planetClimate change is real and increasingly a.
AMLO reinforces security in Veracruz after massacreMexico President Andres Manuel Lopez Obrador.
American actress Krysten Ritter “addicted” to Chile HabaneroKrysten Alyce Ritter, an American actress,.
One ton of garbage is taken out of a cenote in Dzitya, Mérida municipalityWith the support of some 200.
Elba Esther Gordillo “La Maestra” recovers seized assets by way of injunctionThere were high expectations for a.
March: the month with the highest number of homicides in MexicoMarch, the month with the highest.
Tourists swarm the beaches of Yucatán during the weekendIn Progreso, more than 40,000 visitors.
Mexican soldiers confuse limits with U.S. and disarm 2 U.S. soldiers… In their country.EL PASO TEXAS (Agencias). – Two.
Leave a Comment