UPDATE 1-Mexico industrial output shrinks for first time in 5 months

viernes 11 de diciembre de 2015 10:36 GYT
 

(Adds comparative data, breakdown by sector)

MEXICO CITY Dec 11 (Reuters) - Mexican industrial output shrank in October for the first time in five months, as mining slumped and factory output barely expanded, pointing to headwinds for Latin America's second-largest economy in the fourth quarter.

Industrial output slid 0.1 percent compared to September, the national statistics office said on Friday, well below analysts' expectations for a 0.25 percent rise and September's 0.4 percent expansion.

The data showed mining fell by 0.6 percent in October from September, its biggest slide since April, as mining services fell and oil production was flat.

Mexico has been hit by a decade-long slump in oil production and a plunge in prices, despite a landmark opening of the sector to private investment.

Factory output rose just 0.1 percent in October from September. Mexico sends nearly 80 percent of its exports, mostly factory goods, to the United States.

The construction sector showed no growth, but utilities expanded by 0.6 percent month-on-month.

Compared with October 2014, industrial output rose 0.5 percent, below expectations for a 1.1 percent expansion and the 1.7 percent expansion in September. (Reporting by Alexandra Alper; Editing by Bernadette Baum)