Industrial production in Mexico grew 3.9 percent year-over-year in September, the result of the positive behavior of the four industries that make up the indicator, according to SteelOrbis analysis of data from the national statistics office Inegi.
Industrial activity contributes 28.5 percent of Mexico's Gross Domestic Product (GDP) and has recorded continuous positive behavior since March 2021.
Of the four industries that make up the indicator, the manufacturing industry is the most important because it contributes 16.6 percent of Mexico's total GDP. In September, industrial manufacturing production increased, year-over-year, 0.8 percent. That increase reversed the 1.1 percent annual decline in August.
The construction industry, the second most important, contributing 6.0 percent of GDP, registered an increase of 18.6 percent. The mining industry (4.7 percent of total GDP) grew 0.5 percent. The energy industry (electricity, gas and water, to the final consumer, which contributes 1.3 percent of GDP) grew 7.0 percent.
Within the manufacturing industry, the steel industry (Basic Metal Industries) registered a decrease of 3.7 percent, this is the second consecutive annual increase.