Mexico's industrial production increased at a significantly slower pace in March, but came in above economists' expectations, data released by statistical office INEGI showed Monday.
Industrial production increased 3.1 percent on an annual basis in March, markedly slower than the 6.1 percent growth recorded in February. Economists were looking for an increase of 2.8 percent.
Manufacturing production advanced 3.5 percent annually in March, while mining output remained unchanged. There was a 2.1 percent year-on-year growth in the production and supply of electricity, gas and water supply during the month, and a 4.5 percent gain in construction output.
Month-on-month, industrial output increased a seasonally adjusted 1.55 percent in March, slower than the 2 percent rise economists expected. In the January-March period, production increased 4.5 percent from the corresponding period a year earlier, the agency said.
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