Industrial production in Mexico grew by 3.3% per year in 2022, driven in particular by manufacturing and with increases in all sectorsreported this Friday the National Institute of Statistics and Geography (Inegi).
The data was the result of the interannual rise, based on original figures, of the manufacturing industries (5.2%), and the generation, transmission and distribution of electrical energy and water and gas supply (3.6%).
There were also increases in construction (0.4%) and mining (0.2%).
Only in December industrial production rose by 3% year-on-year.
This is due to increases in construction (5.5%), manufacturing (2.7%), electricity generation and water and gas supply (2%), as well as mining (0.9%).
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Likewise, industrial activity increased by 0.7% last December compared to the previous month, according to seasonally adjusted figures.
This was the result of monthly increases in construction (2.7%), in the generation of electrical energy and water and gas supply (1%), mining (1%) and manufacturing (0.5%).
The figures are a reflection of the behavior of the Mexican economywhich grew 3% annually in 2022, according to the timely estimate released by Inegi last week.
In 2021, industrial production rebounded by 6.5% compared to 2020, when there was a 10% drop due to the Covid-19 pandemic, which added to the 1.8% decline in 2019.
Mexico’s gross domestic product (GDP) grew 4.8% in 2021, below government expectations of 6%, after contracting 8.2% in 2020, its worst slump since the Great Depression of 1932.
For this 2023, The Government estimates that Mexico’s economy will grow around 3%.
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