Industrial activity in Mexico grows by 0.2 percent in July

(MENAFN) Mexico's industrial activity experienced a modest expansion of 0.2 percent in July compared to the previous month, according to the National Institute of Statistics and Geography (INEGI) on Wednesday. This increase, based on seasonally adjusted figures, followed a slightly larger growth of 0.4 percent in June. The data reveals a mixed performance across various sectors within the industrial sector.

In detail, the construction sector saw a notable growth of 2.6 percent in July, reflecting a positive trend in this area. Similarly, the mining sector expanded by 2.4 percent, indicating robust activity in extracting and processing minerals. However, the manufacturing industries faced a contraction of 0.8 percent, suggesting challenges in this sector which impacted the overall industrial performance for the month.

When looking at annual figures, Mexico's industrial activity showed a 0.6 percent increase with seasonally adjusted data, a slight improvement from the 0.4 percent annual growth reported for June. The construction sector performed well on an annual basis, growing by 4.4 percent. Additionally, energy generation, transmission, and distribution saw a 2.7 percent increase, demonstrating steady progress in these critical areas.

Despite these positive annual trends, certain sectors faced declines. The mining sector experienced a slight annual decrease of 0.2 percent, while the manufacturing industries saw a more significant annual contraction of 0.6 percent. These mixed results underscore the varied performance across different segments of Mexico's industrial landscape.

MENAFN12092024000045015839ID1108665359