UPDATE 1-Mexico industrial output jumps to 3-yr high on construction
(Recasts with details on components) MEXICO CITY, March 11 (Reuters) - Mexican industrial output rose in January by the most in more than three years, bouncing back from a recent slump on strong construction even as factory production slipped, data showed on Friday. Industrial output rose 1.2 percent from December in seasonally adjusted terms, the national statistics office said, in the biggest increase since November 2012 and well above a 0.15 percent rate projected in a Reuters poll. Output had fallen during the three prior months. Among the components of industrial output, the construction sector jumped 4.0 percent in its biggest seasonally adjusted month-on-month increase in 12 years. Factory production dipped 0.1 percent compared to December. Mexico exports mostly factory goods and it sends nearly 80 percent to the United States. Uneven U.S.-demand weighed on growth in Latin America's No. 2 economy last year. Utilities fell by 0.5 percent compared to December while mining output rose 1.4 percent on metals extraction, all in seasonally adjusted terms. Oil production slid 0.1 percent. Mexico has been hit by a decade-long slump in oil production and a plunge in crude prices has spurred state-run firm Pemex to cut back on investment plans while also dampening interest in a landmark opening of the energy sector to private investment. Compared with January 2015, industrial output rose 1.1 percent compared to expectations for a 0.2 percent expansion. (Reporting by Michael O'Boyle; Editing by Bernadette Baum)
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