Mexico's industrial production decreased from last year in February, contrary to economists' forecast for a modest increase, latest data showed Thursday.
Industrial production declined 1.2 percent on an annual basis in February, reversing the 1.7 percent gain seen in January, statistical office INEGI said. Economists had forecast a 0.9 percent growth.
All of the industrial sub-sectors recorded contraction during the month. Driving the overall slump in activity, construction output fell 2.3 percent annually, and manufacturing production dropped by 0.9 percent.
Production in the mining sector was lower by 0.8 percent compared to last year, and output of electricity, gas and water supply down by 0.5 percent.
Month-on-month, industrial production edged up a seasonally adjusted 0.51 percent in February, slower than the 1.26 percent growth seen in the previous month. Economists were looking for a 1 percent growth, data showed.
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