Mexico’s industrial output rose by 1.5pc on an annual basis in March due to higher demand, despite a decline in mining and construction activity according to the National Statistics Agency (Inegi).
Manufacturing output increased by 5.5pc in March against the same month of 2020 amid growing production of machinery and equipment, metallic products, and transportation equipment, which rose by 15.1pc, 13.2pc, and 14.8pc, respectively.
However, construction and mining activity dropped by 5.6pc and 2.1pc, respectively, in March compared to the same month of the prior year, Inegi noted in a statement on Wednesday.
Construction activity dropped following a 9.4pc decline in the construction of new buildings in March against the prior-year period, while mining output fell after services related to the mining industry dropped by 12pc in the same month.
On a monthly basis, Mexico’s industrial output rose by 0.7pc in March, Inegi indicated.