Mexico City. For the second consecutive month, the country’s industrial production has seen a recovery, as in June 2024 it grew 0.4 percent compared to May, driven by the manufacturing sector, the National Institute of Statistics and Geography (Inegi) reported on Friday.
The positive performance of the Monthly Indicator of Industrial Activity (IMAI) was also reflected in its annual variation, as a growth of 0.4 percent was observed.
Julio Santaella, former president of the autonomous body, highlighted on his social media account X, that the second consecutive monthly increase reported in June 2024, after the one observed in May which was 0.7 percent, “allows for an incipient reversal of the downward trend that began at the end of 2023.”
The monthly growth in industrial activity was driven by manufacturing, which advanced 2.0 percent in the sixth month, after two previous declines. Santaella considered that despite the observed progress, this sector remains stagnant, since in June it barely managed to return to the level observed in October 2023.
Within the manufacturing industry, it was observed that 14 of 21 subsectors showed a monthly advance, but petroleum derivatives stood out with a monthly growth of 9.8 percent in June, transportation equipment with 6 percent and furniture with 3.5 percent.
The other three components of the measurement showed a negative performance. After three consecutive periods of growth, construction broke the observed streak, as it contracted 2.3 percent compared to the fifth month of the year.
Within this industry, with original figures, the construction of civil engineering works, which are associated with federal government projects, decreased 5.7 percent compared to the fifth month of 2024. While specialized construction work observed a decrease of 3.6 percent compared to May. Only construction advanced 5.8 percent in June.
Mining contracted 2.0 percent in the sixth month compared to May, while the generation, transmission, distribution and marketing of electric energy, water supply and natural gas supply through pipelines to the final consumer only fell 0.1 percent monthly.
The 0.4 percent annual growth was explained by the 3.5 percent growth in the generation, transmission, distribution and marketing of electric energy, water supply and natural gas supply through pipelines to the final consumer.
Construction saw growth in June of 1.4 percent compared to the same month last year, while manufacturing industries fell 0.8 percent annually. Mining saw a decrease of 4.4 percent compared to the sixth month of 2023.
In the year-to-date, industrial activity grew 1.4 percent compared to January-June 2023. This figure is explained by the 10.1 percent increase in construction, while the generation, transmission, distribution and marketing of electricity, water supply and natural gas through pipelines to the final consumer observed a growth of 2.6 percent compared to the first half of 2023.
Manufacturing industries showed a 0.3 percent annual contraction in the first six months of 2023, while mining showed a 2.7 percent drop compared to January-June last year.
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– 2024-08-15 12:10:41
