Mexico Industrial Production Grows In May

(RTTNews) - Mexico's industrial production grew annually in May, after a decline in the previous month, as manufacturing recovered, figures from the statistical office INEGI showed Friday.

Industrial production rose 1.6 percent year-on-year, following a 0.8 percent decline in the previous month. Economists had forecast a 1.9 percent gain.

Manufacturing output increased 3.6 percent, after remaining stagnant in April. That was slightly better than economists' projection for 3.5 percent growth.

Utility sector output grew 1 percent, which was slower than the 2 percent gain in the previous month. Output declined in mining and construction sectors.

Month-on-month, industrial production climbed 0.11 percent in May, which was less than economists' expectations for 0.3 percent growth. In April, production rose 0.5 percent.