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Industrial output in Mexico falls on weak construction

Keywords: Tags  Mexico industrial output, construction, Canacero, Rodrigo Alonso

MEXICO CITY — Mexico’s industrial output fell 2.4 percent year on year in June, according to the latest figures from the country’s statistics agency, Instituto Nacional de Estadística y Geografía (Inegi).

The decline was driven by decreases in all four sectors monitored by the agency to measure industrial activity.

Construction activity fell 6 percent in June, which weakened demand for materials such as iron ore, steel profiles and steel pipe. Mining output slipped 2.4 percent, manufacturing fell 1.2 percent and utilities slid 0.7 percent in the same comparison.

Mexico’s industrial output has been falling over the past few months, Inegi’s figures indicate. The most recent decline was recorded in April, when industrial output fell 1.7 percent from a year earlier. Crude steel output declined 12.5 percent to 1.4 million tonnes in April, according to the latest figures from Canacero, the country’s steel association.

Mexico’s industrial output in June was unchanged from the previous month, however.

A version of this article was first published by AMM sister publication Steel First.

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