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Financial News: Mexico Industrial Production Growth Improves Further

Mexico Industrial Production Growth Improves Further

06/10/2022 - 09:21:00 (RTTNews)

(RTTNews) - Mexico's industrial production growth accelerated for the second straight month in April, largely driven by robust output growth in the manufacturing and utility sectors, data from the National Institute of Statistics and Geography showed on Friday.

Industrial production climbed a seasonally adjusted 2.9 percent year-on-year in April, faster than the revised 2.5 percent rise in March.

Meanwhile, economists had forecast growth to ease to 1.8 percent. Production has been rising since March 2021.

Among sectors, manufacturing output grew the most by 4.5 percent annually in April, and output in the utility segment logged an increase of 3.2 percent. Meanwhile, mining output increased moderately by 0.1 percent.

On a monthly basis, industrial production climbed 0.6 percent in April, after a 0.4 percent gain in February. That was well above the expected rise of 0.1 percent.

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