Mexican industrial production demonstrates positive growth in September
Date
11/12/2023 5:16:07 AM
(MENAFN) According to the National Institute of Statistics and Geography (INEGI), Mexico's industrial output demonstrated positive growth both on an annual and monthly basis in September, surpassing market expectations.
On an annual basis, industrial output, in seasonally adjusted terms, rose by 4.5 percent, slightly exceeding the anticipated 4.4 percent gain and following a 4.7 percent increase in August.
Notably, the construction sector exhibited substantial growth, expanding by 19.5 percent annually, while manufacturing industries saw a 1.2 percent increase.
Looking at the monthly figures, industrial production in September experienced a 0.2 percent uptick compared to the previous month, surpassing market expectations that predicted a 0.1 percent gain.
This followed a 0.3 percent increase in August. Further details from INEGI's statement revealed a 1.7 percent growth in manufacturing during September, but the mining sector contracted by 1 percent.
The data suggests a nuanced performance within Mexico's industrial landscape, with certain sectors contributing positively to overall growth while others faced contractionary trends.
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