- Mexico: Industrial activity contracts for the third consecutive month in March amid mixed sectoral performance
In March, the Monthly Indicator of Industrial Activity (IMAI) was revised downward, with an annual change in original figures of -1.3%, remaining in negative territory for the third consecutive month. By component, and in annual terms, mixed signals were observed. Mining grew by 6.0%, driven by support activities for mining (45.7%), with its remaining components also in positive territory, while the utilities sector increased by 0.2%. Meanwhile, construction fell by 6.2%, breaking a five-month positive trend, with declines in building construction (-8.1%) and specialized activities (-2.4%). Manufacturing also contracted by -1.0%, highlighting drops in electrical equipment manufacturing (-10.4%), furniture manufacturing (-9.2%), and textile manufacturing (-6.6%). On a seasonally adjusted monthly basis, industrial activity posted a variation of -0.6%, with mining at 1.7%, utilities at 0.3%, construction at -3.3%, and manufacturing at -0.2%.
—Rodolfo Mitchell, Miguel Saldaña & Martha Cordova
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