UPDATE 1-Mexico industrial output falls for third straight month
(Adds breakdown of components, historical comparisons) MEXICO CITY, Feb 11 (Reuters) - Mexican industrial output slipped in December for the third month in a row as mining, construction and utilities sank, signaling further headwinds for Latin America's second-largest economy. Industrial output fell 0.1 percent from November, the national statistics office said on Thursday, well below analysts' expectations for a 0.2 percent rise and November's upwardly revised 0.4 percent contraction. The data showed mining tumbled 1.1 percent, its biggest contraction since April, as oil production slid by 0.9 percent. Mexico has been hit by a decade-long slump in oil production and a plunge in crude prices, despite a landmark opening of the sector to private investment. Factory output, a rare bright spot in the report, rose 0.3 percent. Mexico sends nearly 80 percent of its exports, mostly factory goods, to the United States. The construction sector sank 0.2 percent while utilities fell by 0.8 percent month-on-month. Compared with December 2014, industrial output was flat , despite expectations for a 0.2 percent expansion. However, it grew an upwardly revised 0.2 percent in November compared with the year-earlier month. (Reporting by Alexandra Alper Editing by W Simon)
© Thomson Reuters 2016 All rights reserved.