Mexico’s industrial activity declined by 1.7pc in January compared to the same month in 2019, due to reduced construction industry, which also affected steel demand.

 

Crude steel output in the country reached 1.37mn mt in January, down by 16pc from 1.63mn mt during the same month in 2019.

 

Construction and manufacturing also activity fell by 9.2pc and 1pc, respectively, according to the latest figures from the National Institute of Statistical and Geographic Information (Inegi).

 

The construction sector experienced diminished activity mainly because there are fewer civil engineering projects being developed. Consequently, activity declined by 17.7pc on an annual basis in January.

 

Inegi noted that specialized construction and building works also fell by 4.9pc and 7.3pc, respectively.

 

However, mining activity rose by 5.8pc in January 2020 compared to the same month a year earlier, thanks to higher metallic, and non-metallic mineral production, which increased modestly by 1.7pc.

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