Mexico's industrial output up by 2.4% in December 2003

Mexico’s industrial output up by 2.4% in December 2003

Based on the data released by Finance Ministry, Mexico's industrial output increased by 2.4% in December 2003. This increase indicates an economic recovery after eight months of declines. The increase in industrial output was better than expected and affected by strong growth in the construction and mining sectors. Manufacturing sector which was the weakest area of the economy for 2003, also rose by 2.4% in December 2003. The mining sector grew by 4.8% in the same month while construction sector soared by 3.7% due to increased demand for building materials. For the entire year, industrial output showed an increase of 0.8% in Mexico.