Mexico's industrial production drops in June, while construction slightly up

Wednesday, 12 August 2009 02:34:03 (GMT+3)   |  
       

Mexican industrial production declined by 10.6 percent in June compared to the same month of last year and dropped 0.87 percent compared to the previous month, reported the National Institute of Geography and Statistics (INEGI) Tuesday.

For the first six months of the year, Mexico's total industrial output was down by 10.7 percent from the same period of the prior year.

The manufacturing sector dropped by 15.2 percent in June compared to June of last year and fell 1.23 percent compared to May, as production declined across the transport, metals, and electronics sectors.

Mexico's construction sector shrank 6.5 percent in June compared to the same period last year while it grew 0.82 percent compared to May of this year.

In June, Mexico's mining industry contracted by 2.0 percent compared to June of last year and was down 2.48 percent compared to the previous month.

The drop in Mexico's industrial output in June was largely due to the decrease in US' demand for Mexican-made goods. However, the figures also show that Mexico's recession may be moderating, as the June drop was not as steep as the 11.6 percent drop in May's output from a year earlier.