Mexico Industrial Output Growth Exceeds Forecast

Mexico's industrial production growth accelerated at a faster-than-expected pace in June to its strongest level in five months, data from the National Institute of Statistics and Geography showed on Thursday.

Industrial production climbed a seasonally adjusted 3.8 percent year-on-year in June, faster than the 3.3 percent rise in May. That was also above the 3.6 percent growth expected by economists.

Production has been rising since March 2021. Moreover, the latest rate of increase was the strongest in five months.

Among sectors, manufacturing output grew the most by 5.2 percent annually in June, and output in the utility segment logged an increase of 3.8 percent.

Output produced in the mining sector was 2.2 percent higher in June compared to last year.

On a monthly basis, industrial production edged up 0.1 percent from May, when it rose by 0.2 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Japanese entrepreneur Yusaku Maezawa has selected ten crewmembers, comprising artists, content creators, and athletes, to fly with him on SpaceX's Starship around the Moon on the dearMoon mission. SpaceX's first private lunar flight with dearMoon crew, including two backups, is planned to take place in 2023. Maezawa announced the crew for the mission in a YouTube video and a tweet. SpaceX, owned by Elon Musk, has launched 40 satellites of British communications network OneWeb into orbit. From NASA's Kennedy Space Center or KSC in Florida, Falcon 9 rocket on Thursday evening carried the satellites. The Falcon 9's first stage separated, and it then returned to Earth to make a landing on a SpaceX pad at the nearby Cape Canaveral Space Force Station. Google, owned by Alphabet Inc., plans to merge its teams working on Maps products and the mapping service Waze with effect from December 9, reports said. The decision to consolidate processes comes as the search giant is facing pressure to streamline operations and cut costs. The restructuring is expected to reduce overlapping work across the Waze and Maps products.
Follow RTT