Productivity falls 5.2 percent in Mexican steelmakers, third consecutive quarterly drop

Friday, 09 December 2022 21:17:20 (GMT+3)   |   San Diego
       

Labor productivity in the "Basic Iron and Steel Industry" in Mexico decreased 5.2 percent, in the third quarter of this year, compared to the same period in 2021. It is the third consecutive drop, show data from the national organization of statistics (Inegi), analyzed by SteelOrbis.

In the first three quarters of 2022, labor productivity calculated with total employed personnel decreased.

This accumulated contraction was registered after five consecutive increases: Q4 2030 with 3.3 percent, Q1 2021 with 8.2 percent, Q2 2021 with 33.5 percent, Q3 2021 with 23.9 percent and Q4 2021 with a growth of 7.0 percent.

From Q4 2018 to Q2 2020, for eight consecutive quarters, labor productivity decreased an average of 9.35 percent.

In the entire manufacturing industry, labor productivity rose 6.7 percent in the third quarter of this year, compared to the same period in 2021.


Similar articles

Mexican wire rod production and consumption decline in 2022

08 Feb | Steel News

Rebar ranks highest in Mexican finished steel production, fourth in consumption

08 Feb | Steel News

Ternium’s global CEO will lead business chamber in Nuevo Leon

08 Feb | Steel News

Vehicle production in Mexico could exceed pre-pandemic levels in 2024

08 Feb | Steel News

Mexico expects to attract $15 billion of FDI for auto parts

08 Feb | Steel News

Mexican HRC production and consumption increase in 2022

07 Feb | Steel News

Gross fixed investment in Mexico rises 5.9 percent in January

07 Feb | Steel News

Mexican vehicle production increases 2.4 percent in January

07 Feb | Steel News

Mexican galvanized sheet production and consumption decline in 2022

07 Feb | Steel News

Mexican CRC consumption declines, production increases in 2022

07 Feb | Steel News