Mexico Industrial Output Growth Strongest In 5 Months

(RTTNews) - Mexico's industrial production expanded at the fastest pace in five months in February, mainly due to a sharp rebound in mining output, data from the National Institute of Statistics and Geography showed on Tuesday.

Industrial production climbed a seasonally adjusted 3.5 percent year-on-year in February, faster than the 2.4 percent increase in January.

Further, this was the fastest rate of growth since September 2022, when production had risen 4.3 percent.

Among sectors, mining output grew sharply by 7.7 percent annually in February, reversing a 3.8 percent fall a month ago. Output produced in the utilities sector gained 5.1 percent versus 4.4 percent in January.

At the same time, the yearly growth in manufacturing eased to 2.5 percent in February from 4.0 percent in the prior month.

On a monthly basis, industrial production climbed 0.7 percent from January, when it dropped marginally by 0.1 percent.