The industrial production in Mexico grew 0.7% year-on-year in April, driven in particular by mines, reported this Friday the National Institute of Statistics and Geography (Inegi).
The data was the result of the interannual rise, based on original figures, of mining (1.9%); manufacturing (1.4%), and the generation, transmission and distribution of electricity and water and gas supply (0.6%), although there was a drop in construction (-2%).
In this way, in the first quarter of 2023 the industrial production of Mexico grew 2% year-on-year.
This is due to increases in electricity generation and water and gas supply (3.3%), manufacturing (2.4%), mining (1.8%), and construction (1%).
On the other hand, the monthly indicator of industrial activity (IMAI) it rose 0.4%, in real terms and with seasonally adjusted figures, last April compared to the previous month.
This is due to the monthly advances in manufacturing (2.1%) and mining (0.3%).
In contrast, there were monthly drops in the generation of electric power and water supply and of gas (-2%) and the construction (-2%).
The figures reflect the behavior of the economy of Mexicowhose gross domestic product (GDP) it grew 3.7% year-on-year and 1% quarterly in the first quarter of 2023, according to the final figures from Inegi.
The industrial production in Mexico it increased by 3.3% per year in 2022, particularly due to manufacturing and with increases in all sectors.
He GDP of Mexico it rose 3.1% in 2022 driven by all sectors, while in 2021 it rose 4.8%, less than the government’s expectation.
Mexico was one of the Latin American countries that took the longest to recover its GDP after the covid-19 pandemic, which caused a historic contraction of 8.2% in 2020.
For this 2024, the Government estimates that the Mexican economy will grow around 3%.
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