Industrial activity slows down again in Mexico
Mexico's industrial activity decelerated its monthly advance for the second consecutive time in December, mainly affected by the drop in construction, the statistics institute, INEGI, informed on Thursday.
The Monthly Industrial Activity Indicator (IMAI) advanced 0.1 percent in the last month of the year, below the revised 1.0 percent recorded in November and the 0.4 percent expected by analysts consulted by Reuters.
In the breakdown by economic activity, construction registered the largest decline, falling 2.7 percent, followed by mining, which declined 0.3 percent, according to seasonally adjusted data.
The generation, transmission, and distribution of electricity, water supply, and piped gas to the final consumer advanced 1.7 percent, while manufacturing grew 1.1 percent.
At a year-on-year rate, the IMAI declined by 2.1 percent in December, according to INEGI's original figures, bringing the indicator to 21 months with negative readings under this metric.
During 2020, Latin America's second-largest economy suffered its largest contraction in decades, falling 8.5 percent, according to preliminary data from the institute.