Mexico industrial output expands

October 12, 2015 12:04 PM

Mexican industrial output expanded in August for the third month in a row, as a ramp-up in manufacturing and utilities offset slowdowns in construction and mining, official data showed on Monday.

Industrial output rose 0.2% compared to July, the national statistics office said on Monday, on par with analysts' expectations and just below the upwardly revised 0.3% expansion in July.

Factory output rose 1.0% in August from July, its strongest showing since April. Mexico sends nearly 80% of its exports, mostly factory goods, to the United States. Utilities also grew by 1.0%.

However, the construction sector, which is also a component of industrial production, fell 0.6% month-on-month, its first slip since May.

Falling oil output and patchy export demand has tamped down economic growth this year, which should reach around 2.3% according to analysts polled by the central bank.

Data on Monday showed mining slumped by 0.3% in August from July as oil production fell.

Compared with August 2014, industrial output rose 1.0%, just below expectations for a 1.1% expansion and on par with an upwardly revised 1.0% expansion in July.

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