Industrial activity in Mexico grew 0.7 percent, year-over-year in April. Of the four industries comprising the Mexican industrial sector, construction registered negative behavior, according to SteelOrbis' analysis of data from the national statistics office Inegi.
Industrial activity, which contributes 28.5 percent of Mexico's Gross Domestic Product (GDP), registered its eighteenth consecutive annual increase. However, it is still below the level prior to the SARS-CoV-2 pandemic.
Of the four components, the manufacturing industry contributes 16.6 percent of GDP, registering an increase of 1.4 percent in April. The construction industry, the second most important by contributing 6.0 percent of the GDP, recorded a drop of 2.0 percent and thus broke the incipient recovery of the last five months.
The mining industry (4.7 percent of GDP) registered an increase of 1.9 percent in its production in April. The energy industry (electricity, gas and water, to the final consumer) grew 0.6 percent.
Within the manufacturing industry, the steel industry (Basic Metal Industries) broke its positive trend of the last six and in April decreased 1.0 percent in April, compared to the same month last year.