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Mexico Industrial Recovery Slows Further in August

Mexican industry expanded less in August than in previous months, official data showed on Monday, in a sign that the country’s recovery from a coronavirus shutdown is slowing.

Industrial output rose 3.3 percent in August from July in Latin America’s second largest economy and was 9.0 percent lower year-over-year, the national statistics agency said.

The monthly growth was less than half July’s figure, and down from almost 19% in June.

Growth was driven by a recovery in construction, which saw a 11.2% spike in activity compared to July.

Earlier this year, industrial output fell sharply as measures put in place to stem the spread of coronavirus dragged down industries including construction and manufacturing.

Reporting by Mexico City newsroom; Editing by Frank Jack Daniel

Source: Reuters

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