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Latino Daily News

Monday May 12, 2014

Industrial Production on the Rise in Mexico

Industrial production rose 1.6 percent in Mexico in the first quarter of this year, compared to the same period in 2013, the National Institute of Statistics and Geography, or INEGI, said Monday.

Manufacturing output grew 4.3 percent, while electricity generation and water and gas sales expanded by 1.4 percent, the INEGI said in a statement.

Mining was flat, compared to the same period last year, while construction contracted by 2.8 percent.

Industrial production was up 3.4 percent in March, compared to the same month in 2013, thanks to a 6.8 percent surge in manufacturing output, a 4.1 percent rise in electricity generation and water and gas sales, and an increase of 0.60 percent in mining activity, which were offset by a 1.4 percent contraction in construction.

Industrial production fell 0.13 percent in March on a seasonally adjusted basis, compared to the previous month, due to a 0.48 percent drop in mining and a 0.34 percent decrease in manufacturing.

Electricity generation and water and gas sales, meanwhile, rose 0.26 percent and construction expanded by 0.05 percent, the statistics agency said.

Mexico’s industrial production fell 0.70 percent in 2013 as a result of a 4.5 percent contraction in construction and a 1.7 percent drop in mining that were not offset by the 1.4 percent uptick in manufacturing and 0.20 percent rise in utilities.

The government expects Mexico’s economy to grow 3.9 percent this year, rebounding from the anemic 1.1 percent growth registered in 2013.

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