Industrial production in Mexico rose by 3.9% year-on-year in September, driven in particular by manufacturing, the National Institute of Statistics and Geography (Inegi) reported on Friday.
The data was the result of the year-on-year rise, based on original figures, of the manufacturing industries (8.4%) and the generation, transmission and distribution of electricity and water and gas supply (6.5%).
In contrast, there were falls in mining (-2%) and construction (-3.8%).
Thus, in the first three quarters of 2022, Mexico’s industrial production grew by 3.3% year-on-year.
This is the product of increases in manufacturing (5.6%), electricity generation and water and gas supply (3.5%), and mining (0.1%), while construction decreased 0.4%.
Despite the annual rise, industrial activity fell 0.2% globally in September compared to the previous month, according to seasonally adjusted figures.
This was the result of monthly contractions in mining (-1.2%), electricity generation and water and gas supply (-0.6%), and manufacturing (-0.3%), with only an increase in the branch of construction (0.2%).
The figures are a reflection of the behavior of the Mexican economy, which grew by 1% quarterly and 4.2% year-on-year in the third quarter of 2022, accumulating an annual rise of 2.7% in the first three quarters of the year.
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.
The gross domestic product (GDP) Mexico 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 2022, most institutions and analysts estimate that the Mexican economy will grow around 2%.
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