Mexico's industrial production dropped 1.7 percent from a year earlier in July 2019, following a 2.9 percent fall in the previous month and compared with market forecasts of a 1.8 percent decline. Manufacturing production rose 3 percent, rebounding from a 0.8 percent decrease in June while utilities output went down 1 percent, after increasing 1.3 percent. In addition, production declined further in mining & quarrying (-7.5 percent compared to -5.5 percent) and construction (-8.4 percent compared to -6.8 percent). On a seasonally monthly basis, industrial output fell 0.4 percent, following a downwardly revised 1 percent gain in the prior month. Industrial Production in Mexico averaged 1.71 percent from 1980 until 2019, reaching an all time high of 23.82 percent in October of 1996 and a record low of -17.50 percent in October of 1995.
Industrial Production in Mexico is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Mexico to stand at 1.50 in 12 months time. In the long-term, the Mexico Industrial Production is projected to trend around 1.60 percent in 2020, according to our econometric models.