June 10, 2016 / 1:42 PM / 2 years ago

UPDATE 1-Mexico April industrial output slumps by most in a year

(Recasts with details on components)
    MEXICO CITY, June 10 (Reuters) - Mexico's industrial
production sank in April by the most in  nearly a year,
contracting for a third month in a row at a surprisingly fast
pace, as factory and mining output foundered and building
    Mexican industrial output fell 0.7 percent in April from
March, in seasonally adjusted terms, the national
statistics agency said on Friday, worse than a 0.1 percent dip
expected in a Reuters poll and the biggest month-on-month drop
since May 2015. 
    Uneven demand for Mexican exports in the United States and
declining oil production have weighed on Latin America's No. 2
economy. Mexico sends mostly factory-made goods like TVs and
cars to its northern neighbor and top trading partner. 
    Among components of the data, factory output fell 0.7
percent in April, month-on-month, while mining, which includes
oil output, sank 2 percent compared to March.
    Construction dipped 0.1 percent, in a sign that domestic
demand, which has helped offset slack in exports and oil output,
could be weakening. Utilities grew 0.6 percent, month-on-month.
    Industrial production was 1.9 percent higher
year-over-year, better than a 0.8 percent expansion
seen in the Reuters poll.

 (Reporting by Michael O'Boyle; Editing by Chizu Nomiyama)
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