Mexican industrial output inches up in January, helped by construction
Reuters
Published Mar 12, 2021 10:01AM ET
MEXICO CITY (Reuters) - Mexican industrial output rose 0.2% in January from December, the eighth consecutive monthly increase, lifted by a pickup in construction activity, official data showed on Friday.
Compared with the same month a year earlier, industrial output fell by 4.9% in January as the coronavirus pandemic continued to weigh, figures from national statistics agency INEGI showed.
That was a stronger contraction than the 4.2% drop forecast in a Reuters poll.
A breakdown of the figures showed construction output was up 1.5% month-on-month, but manufacturing activity was down 0.5%.
Nikhil Sanghani, an emerging markets economist at Capital Economics, said the drop in manufacturing output was "concerning" given that industry was hit in February by a cold snap in Texas that threw northern gas supplies into chaos.
"The sector will have also fared poorly in February following the disruption caused by power outages, suggesting Mexican industry will be a drag on overall GDP in Q1," he said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.