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INEGI reports drop in Industrial production for August

Mexico City, Mexico — According to the National Institute of Statistics and Geography industrial activity fell 0.6 percent annually during the eighth month of the year, compared to the same period last year.

Industrial production in Mexico registered a smaller fall in August, before a greater impulse of the manufacturing activity.

According to data from the National Institute of Statistics and Geography (INEGI) reported that in the eighth month of the year, the industry as a whole fell 0.6 percent annually from 1.3 percent previous, in figures adjusted seasonality.

However, the weakness remains in this indicator, which has accumulated three consecutive months in contraction, which according to analysts will hardly have a contribution to economic growth in the third quarter.

The data show a better performance of the manufacturing activity , which from an advance of 2.8 percent in July, in August rose to 3.1 percent.

There was also a smaller decline in construction, which went from 2.6 to 1.5 percent annually, between the seventh and eighth month.

In the original figures, industrial production fell 0.5 percent, in line with analysts’ forecasts.

From January to August, the industry accumulated a decline of 0.4 percent, which compares negatively with the advance of 0.2 percent of the same period of the previous year.

The best performance corresponds to the manufacturing industry, with a 3.4 percent increase, driven by the production of transportation equipment (11.3 percent), machinery and equipment (8.8 percent) and the manufacture of computer equipment and components (7.5 percent).

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