September 11, 2017 / 1:38 PM / 6 months ago

UPDATE 1-Mexico's industrial output posts biggest drop in more than two years

 (Adds detail on components)
    MEXICO CITY, Sept 11 (Reuters) - Mexican industrial output
unexpectedly sank in July, marking its worst performance in more
than two years, on sharp contractions in building and mining,
official data showed on Monday. 
    Industrial production fell 1.0 percent in July from June
           in its biggest monthly drop since May 2015, the
national statistics agency said. A Reuters poll forecast a 0.1
percent expansion after flat growth in June.
    Among the various components, mining output was down 1.4
percent on a month-on-month basis, while construction shrank 2.1
percent and utilities dipped 0.3 percent. Factory production
rose 0.3 percent.
    Mexico's government revised up slightly its 2017 growth
forecast to between 2.0 percent and 2.6 percent when it
submitted its 2018 budget on Friday after stronger-than-expected
growth in the first half of the year.                
    Industrial output was 1.6 percent lower year-over-year

 (Reporting by Michael O'Boyle; Editing by Paul Simao)
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