Industrial activity continues negative trend in October
Industrial activity in Mexico keeps plummeting, INEGI has reported. During October, the Monthly Industry Economic Indicator dropped 2.8 percent at annual rate, recording 13 consecutive months of negative results.
Three of the four areas covered by the Industrial Activity Indicator showed a drop in activity. The biggest fall was in construction, which is down 9 percent compared to October last year. Construction has now registered nine consecutive months of negative results and recorded its lowest performance in five years.
Specialized construction plunged 14.3 percent while construction of new buildings - from houses to industrial facilities - dropped 9.4 percent. Civil engineering works fell 3.6 percent.
Mining (down 2.1 percent) and manufacturing (down 1.2 percent) followed construction in negative results.
Energy generation and water and gas pipeline supply was the only one with positive results during October. This industry grew 4.4 percent and remains at its highest levels since 2014.