Mexico industrial output rises in March on utilities, manufacturing
- Consumption of electricity, water and gas through pipelines rose 4.9% and manufacturing was up by 3%, the national statistics agency said. Mining activity, however, dipped by 3.1%.
- Compared with the same month a year earlier, industrial output was 1.7% higher, driven by manufacturing.
MEXICO CITY: Mexican industrial output rose 0.7% in March from February, the tenth consecutive monthly increase, boosted by a pickup in utilities consumption and manufacturing, official data showed on Wednesday.
Consumption of electricity, water and gas through pipelines rose 4.9% and manufacturing was up by 3%, the national statistics agency said. Mining activity, however, dipped by 3.1%.
Compared with the same month a year earlier, industrial output was 1.7% higher, driven by manufacturing.
Year-on-year growth in March beat expectations, according to a Reuters poll that had predicted a 0.9% increase.
The "impressive" uptick in manufacturing "more than reversed the decline in production in February caused by power outages," Capital Economics said in a note.
"The latest survey data suggest that activity held up well in April too," the firm said.
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