Mexico's industrial production shrank 2.1% from a year earlier in December of 2020, following an upwardly revised 3.8% slump in the prior month and compared with market expectations of a 2.2% fall. It was the 21st consecutive month of output decline but at the softest pace since last February, as manufacturing activity rebounded (2.5% vs -2.1% in November). At the same time, production fell less for mining (-2.5% vs -2.8%), namely the extraction of oil and gas (-3% vs -3.2%); and utilities (-4.5% vs -6.8%). However, output contracted faster for construction (-11.6% vs -7.8%). In 2020, industrial activity plunged 10%, the biggest annual decline since 1995. On a seasonally adjusted monthly basis, industrial output rose 0.1%, slowing sharply from a downwardly revised 1% growth in November and missing market forecasts of a 0.4% gain. source: Instituto Nacional de Estadística y Geografía (INEGI)
Industrial Production in Mexico averaged 1.36 percent from 1980 until 2020, reaching an all time high of 23.82 percent in October of 1996 and a record low of -30.43 percent in May of 2020. This page provides - Mexico Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Industrial Production in Mexico is expected to be -1.00 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 2.50 in 12 months time. In the long-term, the Mexico Industrial Production is projected to trend around 1.70 percent in 2022, according to our econometric models.