EconomyIndustrial activity grows marginally in June, but saves the...

Industrial activity grows marginally in June, but saves the contraction

In June, the industrial activity of Mexico increased 0.1% at a monthly rate, with an advance in the construction and mining sectors, reported the National Institute of Statistics and Geography (Inegi).

However, the generation, transmission and distribution of electricity, water and gas supply through pipelines to the final consumer fell 1% and Manufacturing industries remained unchanged.

The marginal growth of the monthly indicator of economic activity for June is lower than that experienced in April and May, when the Mexican industry had monthly growth of 0.6 and 0.2%, respectively. This implies a slowdown in industrial activity. Some experts, in fact, had the

At an annual rate, the monthly indicator of economic activity maintains a growth of 3.8%, with progress in all components: mining, generation, transmission and distribution of electricity, supply of water and gas through pipelines to the final consumer, construction and manufacturing industries.

Within the manufacturing industries, which remained stagnant in June, the subsectors with the greatest falls in their production were:

  • Manufacture of products derived from petroleum and coal, with a fall of 15.7%.
  • The manufacture of textile products -not including clothing-, with a monthly decline of 5.8%.
  • The paper industry, with a monthly decrease of 3.5%.
  • The manufacture of furniture, mattresses and blinds, with a reduction of 3.8%.

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The informality rate was 55.6% and unemployment during the patriotic month was 3.3%, according to Inegi figures

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The IGAE grew for the second consecutive month, driven by an increase in primary and tertiary activities, although with a stagnation in those of the secondary sector.

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The only sector that showed growth in August was mining, while manufacturing and construction fell in their monthly comparison.