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Financial News: Mexico Industrial Output Growth Improves To 1.9%

Mexico Industrial Output Growth Improves To 1.9%

03/12/2024 - 09:41:00 (RTTNews)

(RTTNews) - Mexico's industrial production growth improved in January after easing in the previous two months, underpinned by strong growth in the construction sector, data from the National Institute of Statistics and Geography showed on Tuesday.

Industrial production climbed a seasonally adjusted 1.9 percent year-on-year in January, faster than the 1.2 percent rise in December.

Among sectors, output produced in construction jumped 17.9 percent annually in January, faster than the 15.7 percent gain a month ago. Utility sector output showed a slower growth of 0.5 percent.

At the same time, manufacturing production declined 1.4 percent from last year, and mining output dropped by 1.8 percent.

On a monthly basis, industrial production recovered 0.4 percent in January, following a 0.7 percent decline in the previous month.

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