UPDATE 1-Mexico industrial output expands for 3rd month in August

lunes 12 de octubre de 2015 09:17 GYT
 

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MEXICO CITY Oct 12 (Reuters) - Mexican industrial output expanded in August for the third month in a row, as a ramp-up in manufacturing and utilities offset slowdowns in construction and mining, official data showed on Monday.

Industrial output rose 0.2 percent compared to July, the national statistics office said on Monday, on par with analysts' expectations and just below the upwardly revised 0.3 percent expansion in July.

Factory output rose 1.0 percent in August from July, its strongest showing since April. Mexico sends nearly 80 percent of its exports, mostly factory goods, to the United States. Utilities also grew by 1.0 percent.

However, the construction sector, which is also a component of industrial production, fell 0.6 percent month-on-month, its first slip since May.

Falling oil output and patchy export demand has tamped down economic growth this year, which should reach around 2.3 percent according to analysts polled by the central bank.

Data on Monday showed mining slumped by 0.3 percent in August from July as oil production fell.

Compared with August 2014, industrial output rose 1.0 percent, just below expectations for a 1.1 percent expansion and on par with an upwardly revised 1.0 percent expansion in July. (Reporting By Alexandra Alper Editing by W Simon)