Industrial production in Mexico grew 9.9% year-on-year in the first five months of 2021 after the May rebound of 36.4%, reported the National Institute of Statistics and Geography, Inegi.

The data from January to May was the result of the 15% increase in manufacturing, 8.5% construction and 0.9% mining, partially offset by the 2.5% drop in the generation and transmission of electricity, water and gas. the agency specified in a statement.

While in the fifth month of the year, industrial activity rose 36.4% thanks to the boost from manufacturing that contributed 48%, construction with 45%, mining 8.9% and electricity generation with 8.7%.

We recommend: Industrial demand grows in Mexico City by 60% annually

The great year-on-year growth in May 2021 is due to the fact that in the same month a year ago the coronavirus pandemic led to the closure of all non-essential activities, especially affecting manufacturing and construction.

In seasonally adjusted figures, industrial activity grew just 0.1% in May compared to the previous month due to the rise in construction by 2%, electricity generation by 1.3% and mining by 1%, while manufacturing fell by 0.7%.

The coronavirus pandemic prompted authorities to order a halt to all non-essential activities in April and May 2020.

In June 2020, the so-called “new normal” began, with a gradual opening of the economy and social activities.

You may also be interested: Toluca stands out as an industrial investment pole

Industrial activity plummeted 10% in 2020, a drop that adds to the 1.8% decline in 2019 and is a reflection of Mexico's economic weakness.

Gross domestic product (GDP) contracted 8.2% in 2020, its worst collapse since the Great Depression of 1932, and an uncertain rebound is estimated for 2021 of around 6%; in 2019, the drop in GDP was 0.1%.

Original Note