MEXICO CITY: Mexican industrial output unexpectedly rose in July, helped by rising oil production and stronger construction, but factory output shrank, official data showed on Friday.
Industrial output rose 0.2 percent compared to June, the national statistics agency said.
That was above expectations for a 0.1 percent drop in a Reuters poll. Factory output fell 0.5 percent from June. Mexico sends nearly 80 percent of its exports, mostly factory goods, to the United States. The construction sector, which also is a component of industrial production, rose 1.5 percent month-on-month.
Mexico's economy picked up in the second quarter on services, but falling oil output and patchy export demand pushed the government to revise down its growth outlook for the year to between 2 percent and 2.8 percent.
Data on Tuesday showed mining expanded by 0.5 percent in July from June as oil production increased. Compared with July 2014, industrial output rose 0.7 percent , above expectations for a 0.3 percent expansion.
Comments
Comments are closed.