We estimate that industrial production will have accelerated in September, with annualised growth of 3.1%, after seasonal adjustments

This estimation takes into account the close relationship between this variable and its US equivalent, which grew at monthly rates of -0.2% and 1.0% sa in August and September respectively. In August Mexico’s industrial production grew 2.1% YoY, sa (illustrated in Figure 1), and in monthly terms increased by 0.37%, linked principally to an increase in construction components (1.2% MoM, sa); electricity, gas and water (1.0% MoM, sa), and mining (0.3% MoM, sa). Manufacturing, on the other hand, fell 0.3% MoM, sa. The performance of industrial production will give a clearer signal about the rate of economic growth in Mexico in the third quarter

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