Industrial activity in the Mexican economy grows 4.3% year-on-year

The Monthly Indicator of Industrial Activity (IMAI) of the Mexican economy grew 4.3% year-on-year in September of this year.

“At an annual rate and with seasonally adjusted series, the IMAI increased 4.3% in real terms last September,” says the monthly report of the autonomous body.

Read also: Check out our coverage on Mexico

By sector of economic activity, manufacturing industries grew 8.3% year-on-year, which is the greatest advance in the national industry in the ninth month and the main source of merchandise exports.

On the other hand, the INEGI reports that the generation, transmission and distribution of electricity, supply of water and gas through pipelines to the final consumer, increased by 6.7%, the second best result of the industrial indicator.

The other two components recorded setbacks: “construction fell 3.3% and mining, 1.8%”, details the report on secondary economic activities.

On the other hand, the IMAI decreased 0.2% at the monthly rate.

In the comparison with the month of August of this year, in September 2022, by components, the largest monthly decline was suffered by mining, which fell 1.2%.

The generation, transmission and distribution of electric power, supply of water and gas through pipelines to the final consumer fell 0.6%, and manufacturing industries fell 0.3%.

The only advance was in construction, which increased by a marginal 0.2%.

The Government of Mexico expects that in 2023 the economy will grow 3%; however, the International Monetary Fund forecasts that the activity of the Mexican economy will slow down from 2.1% in 2022 to 1.2% in 2023.

With information from Sputnik

More: Brazil news in English, every day from The Rio Times.