Mexican Industrial Sector Shows Mixed Results in Energy

According to INEGI, industrial activities in December 2023 including electricity generation, transmission, distribution, and water and gas supply through pipelines witnessed a 1.3% decline compared to the previous month, yet marked a 2.1% increase compared to December 2022.

The INEGI report on industrial activity revealed a 0.7% decline in general industrial activity between November and December 2023, juxtaposed against a 1.2% rise compared to December of the previous year.

Analyzing specific sectors, the construction industry surged by 15.5%, while the domain encompassing electricity, water, and gas supply saw a modest 2.1% increase. However, manufacturing industries faced a downturn of 2.3%, while mining experienced a 1.5% decrease.

Throughout 2023, the electricity generation, transmission, distribution, and water and gas supply sectors showed a cumulative growth of 3.7%. Nonetheless, these energy-related activities faltered significantly in January 2021 and have struggled to rebound since then.