Mexico’s industrial output decreased by 3.1pc on an annual basis in October due to lower demand in construction, mining, and manufacturing, according to the National Statistics Agency (Inegi).
Construction activity dropped by 9.7pc in October compared with the same month in 2019, while mining and manufacturing activities declined by 1.1pc and 1pc, respectively, during the same period under review, Inegi said in a statement without disclosing volume.
The construction of civil engineering works fell by 23.1pc in October from the same month the prior year, while new buildings and specialized infrastructure projects construction fell by 8.6pc and 2.1pc, respectively, in the same period.
On a monthly basis on the other hand, Mexico’s industrial output rose by 2pc in October Inegi noted without disclosing volume.
Mexico’s mining industry lost $4.8bn in revenue after mining companies suspended activities for about two months in H1 2020 to protect their employees from the COVID-19 pandemic, according to the Mexican Mining Chamber (Camimex).