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.

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