Mexico’s industrial production logged a stable rate of expansion at the end of the first quarter, largely driven by robust growth in manufacturing activity, data from the National Institute of Statistics and Geography (INEGI) showed on Thursday.
Industrial production advanced a seasonally adjusted 2.4 percent year-on-year in March, the same rate of increase as in February. Economists had forecast growth to ease to 2.1 percent.
Among sectors, manufacturing output grew the most by, 3.5 percent annually in March, and output in the utility segment logged an increase of 2.2 percent. Meanwhile, mining output fell 1.0 percent.
On a monthly basis, industrial production rebounded 0.4 percent in March, after a 1.2 percent decrease in February. That was below the expected rise of 0.7 percent.
With information from Excelsior