Sunday , June 26 2022

Industrial activity in Mexico, with the highest rebound in 3 years


The industrial activity of Mexico Report positive change of 2.5 percent Annualized during September, which is the highest increase since this month, but from 2015 National Institute of Statistics and Geography (INGI).

According to the dependence, the mining succeeded in getting out of the "bulge" of 51 consecutive months of contractions And reported its first progress in the ninth month of the year of 2.9 percent per year.

This expansion has not been observed since January 2013.

Francisco Flores, an economist at Grupo Financiero Banorte, believes the increase is due to a positive base effect, although "oil and gas production fell by 18.1 percent and 23.2 percent respectively in the same month of 2017 after earthquakes and hurricane Katia."

The expert believes that despite this temporary recovery, it is important to take into account that the production of oil and gas continues in a downward path, especially crude oil, which currently stands at about 1.8 million barrels a day.

For this reason, he noted that it is very likely that mining activity continues to detract from the dynamism of the industry.

On the other hand, the largest contribution of the month came from manufacturing industries, 3.9% Where he links his fifth consecutive month upwards.

In the production of our country is noted that 16 of 21 industries They reported positive balances during September, mainly by increases in the production of textile products (15.5%), manufacture of accessories, electrical products and equipment for electricity production (8.9%) and production of transport equipment (7.6%).

On the other hand, the "equipment" showed an increase 3.1 percent On an annualized basis, which showed the fourth consecutive expansion of the industry, while construction did not change relative to the previous month.

In the monthly growth, industrial activity reported growth of 1%, while mining fell by 0.6%; Infrastructure rose by 0.7%, and construction and manufacturing industries rose by 1.1%.

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