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Market Update: Mexico Industrial Output Surges at Record Pace in April
Mexico’s industrial production surged 36.6 percent over a year earlier in April of 2021, following a 1.7 percent rise in the previous month and was marginally lower than market expectations of a 36.7 percent increase. It was the fastest expansion in industrial output on records, mainly due to low base effects accounting for the pandemic effects on industrial activity last year. Main upward pressure came from manufacturing (52.0 percent vs 6.3 percent in March) and construction (45.1 percent vs -5.6 percent). Meanwhile, output also rebounded in mining (5.5 percent vs -2.2 percent) and production of utilities contracted at a softer pace (-3.1 percent vs -3.5 percent). On a seasonally adjusted monthly basis, industrial output edged down 0.2, following a 0.7 percent advance in the prior month and was in line with market estimates. source: Instituto Nacional de Estadística y Geografía (INEGI) [/s2If]
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