Industrial production in Mexico rose 2.6% year-on-year in March due to the growth of manufacturing, construction and the generation and transmission of electricity, water and gas, by 3.6%, 3% and 2.8%, respectively, according to the Institute National Statistics and Geography (Inegi)

On the other hand, this increase was offset by the fall in mining (-1.3%), according to the agency in a statement.

Thus, in the first quarter of the year, industrial production grew by 3.1% year-on-year. This is the product of increases in manufacturing (4.7%), mining (2.3%) and electricity generation and water and gas supply (4.7%), with a 0.1% drop in construction.

Of interest: Monterrey industry reaches record figures

In seasonally adjusted figures, industrial activity increased 0.4% in March compared to the previous month after increases of 3.7% in construction and 2.3% in electricity, water and gas, offset by decreases of 0.6% in mining and 0.2% in manufacturing. .

With this monthly advance, industrial production reversed the contraction of the previous month and reached the highest level since February 2020, according to the available historical record.

In 2021, industrial production rebounded 6.5% compared to 2020, when there was a 10% drop due to the Covid-19 pandemic.

That substantial drop in 2020 added to the 1.8% decline in 2019, reflecting Mexico's economic weakness.

Check here: The industrial demand for the first quarter of 2022 was supported by the markets in the north of the country

Mexico's gross domestic product (GDP) grew 4.8% in 2021, below government expectations of 6%, after contracting 8.2% in 2020, its worst slump since the Great Depression of 1932. In turn, the fall of GDP in 2019, was 0.3%.

For this 2022, most institutions and analysts estimate that the Mexican economy will grow around 2%, while the Ministry of Finance estimates that the economy will grow 3.4%.

In Solili you can consult industrial warehouses available in Monterrey, Saltillo and Ciudad Juárez

Original note