Tuesday, 13 November 2012 03:38
MEXICO CITY: Mexico's industrial output rose more than expected in September, as factories in Latin America's No. 2 economy gained steam in line with their US counterparts.
Growth in industrial production picked up to a seasonally adjusted 0.9 percent from a 0.8 percent contraction in August, which was the biggest fall in three years, according to revised numbers released by the National Statistics Agency on Monday.
September's month-over-month number also beat expectations for a 0.22 percent expansion expected in a Reuters poll of analysts and was driven by a 1.6 percent rise in manufacturing. The mining sector notched a fall of 1.55 percent.
But output compared with that of September 2011 rose a lukewarm 2.4 percent, the slowest growth since April 2011. It came in below the 2.95 percent increase expected in the poll and the downwardly revised 3.4 percent expansion in August.
"Industry is probably growing, although at a slightly weak pace," said ...