Industrial production Mexico slows down in August due to lower manufacturing performance

0
3
Industrial production Mexico slows down in August due to lower manufacturing performance




File photo. A general view shows the Teziutlán mine of the Autlán mining company that produces ferroalloys for the steel industry in Mexico, in the municipality of Teziutlán


© Reuters / IMELDA MEDINA
File photo. A general view shows the Teziutlán mine of the Autlán mining company that produces ferroalloys for the steel industry in Mexico, in the municipality of Teziutlán


MEXICO CITY, Oct 12 (Reuters) – Mexico’s industrial production slowed in August compared to the previous month due to a lower performance of mining and manufacturing activity, as the economy continues in its gradual process of reopening after the emergency by the coronavirus pandemic.

The Monthly Industrial Activity Indicator (IMAI) registered a real increase of 3.3% in the eighth month of the year, according to seasonally adjusted figures published on Monday by the national statistics institute.

The level of the indicator marked a slower pace of activity compared to July and June. In April, the variable suffered a historical contraction due to the partial shutdown of the economy to try to contain the spread of the coronavirus.

By components, construction grew by 11.2% during August, the generation, transmission and distribution of electricity, water and gas supply through pipelines to the final consumer by 5.7%, and manufacturing industries and mining grew by just 0.8% each one.

In original figures, industrial activity suffered a decline of 9.0% year-on-year.

Between April and May, most of the productive and social activities were suspended in the country, which still seriously affects the second largest economy in Latin America.

(Report by Miguel Angel Gutiérrez, edited by Noé Torres)

LEAVE A REPLY

Please enter your comment!
Please enter your name here