INSUBCONTINENT EXCLUSIVE:
The industrial production in Mexico experienced a decline of 0.9 percent in August compared to the previous year.This downturn was largely
attributed to the weakening construction sector, as reported by the National Institute of Statistics and Geography (INEGI).Construction
activities saw a significant drop of 4.5 percent in August compared to the same month last year
This decrease was primarily due to a sharp decline in civil engineering projects across the country.The mining sector also faced challenges,
with a 1.2 percent year-on-year decrease in August
However, the manufacturing sector managed to show a slight growth of 0.1 percent during the same period.Mexican Industrial Activity Slows in
August: Construction Sector Takes a Hit
This figure highlights the overall resilience of the industrial sector in the face of recent challenges.Seasonally adjusted data revealed
that industrial production in August fell by 0.5 percent compared to the previous month
It also showed a 0.3 percent decrease when compared to the same period in 2023.Grupo Financiero Monex, in a separate report, noted that
industrial activity entered negative territory for the first time since February 2021
The unexpected decline in construction and the notable stagnation in manufacturing were highlighted as particularly worrying trends.The
financial group identified several challenges facing Mexican industrial activity
These include mixed performance in transportation, plastics, and petroleum product manufacturing sectors.Mexican Industrial Activity Slows
is going through a period of weakness
They projected growth to slow from 3.2 percent in 2023 to 1.5 percent in 2024.This forecast underscores the need for strategic measures to
Policymakers and industry leaders must work together to address these challenges and foster sustainable growth.
