FX.co ★ Mexico Industrial Output Expands At Slower Pace

Mexico's industrial production growth experienced a notable slowdown in April, primarily due to a downturn in mining production, as reported by the National Institute of Statistics and Geography on Tuesday.

The data indicates that industrial production increased by a seasonally adjusted 0.6 percent year-on-year in April, a deceleration from the 2.0 percent growth observed in March.

In terms of sector performance, the construction sector experienced a significant annual surge of 12.6 percent in April, while the utility sector also posted a growth of 2.1 percent.

Conversely, the decline in mining production became more pronounced, showing decreases of 5.1 percent and 4.2 percent, respectively, and manufacturing output fell by 2.1 percent.

On a month-to-month basis, industrial production saw a decline of 0.5 percent in April, following a rebound of 0.5 percent in March.