Mexican industry registered a 6.9% increase during July

Mexican industry registered a 6.9% increase during July

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MEXICO –  Industrial production in Mexico registered a 6.9% increase at a monthly rate during July, the National Institute of Statistics and Geography (Inegi) reported this Friday. The institute detailed that the Monthly Indicator of Industrial Activity (IMAI), stood at 90.59 points, still below the levels registered before the pandemic, when it stood at 98.20 units in March.

According to the statement, the increase in the IMAI was the result of the sharp rise in manufacturing and the generation, transmission and distribution of electricity, water and gas.

Manufacturing industries increased 11% in July, their second largest increase registered since there is data, that is, since 1993. The biggest increase was recorded in June when it climbed 26.81%. Only one of the 22 manufacturing industries reported 'red numbers', among which stood out the increase of 40.66% per month in tanning and finishing of leather and fur.

The electricity generation, transmission and distribution industries, water supply and gas showed an increase of 5.5% at a monthly rate, their sharpest increase since January 2018. For its part, the construction industry presented a slight increase of 0.9% at rate in the seventh month of the year, its third consecutive month showing a growth pace.

According to the Inegi report, the mining industry registered an increase of 0.8% at a monthly rate, its second consecutive month showing an increases. On an annual basis, the indicator presented a real fall of 11.6% in July, based on seasonally adjusted figures.

By sectors of economic activity, construction decreased 23.7%, manufacturing industries 9.5%, electricity generation, transmission and distribution, water and gas supply through pipelines to the final consumer had an 8.8% decrease, and mining on a 3%.

Source: El Financiero