Mexico Industrial Production Growth Eases To 2.9%

(RTTNews) - Mexico's industrial production growth eased for the second straight month in November, mainly due to a contraction in mining output, data from the National Institute of Statistics and Geography showed on Wednesday.

Industrial production climbed a seasonally adjusted 2.9 percent year-on-year in November, slower than the 3.2 percent increase in October. Production has been rising since April 2021.

Among sectors, manufacturing output climbed 4.5 percent annually in November versus a 5.7 percent rise seen a month ago. Output produced in the utility sector gained 5.5 percent.

At the same time, mining production fell 0.5 percent after a 0.4 percent rebound in October, while construction output recovered by 0.8 percent.

On a monthly basis, industrial production remained flat in November, after a 0.4 percent increase in the preceding month.