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Financial News: Mexico Industrial Output Expands At Slower Pace

Mexico Industrial Output Expands At Slower Pace

06/11/2024 - 09:59:00 (RTTNews)

(RTTNews) - Mexico's industrial production growth eased notably in April, largely due to weaker mining production, data from the National Institute of Statistics and Geography showed on Tuesday.

Industrial production rose a seasonally adjusted 0.6 percent year-on-year in April, slower than the 2.0 percent rise in March.

Among sectors, output produced in construction surged 12.6 percent annually in April, and utility sector production showed a growth of 2.1 percent.

On the other hand, the decline in mining production deepened to 5.1 percent and 4.2 percent, and manufacturing output dropped by 2.1 percent.

On a monthly basis, industrial production decreased 0.5 percent after rebounding 0.5 percent in March.

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