Mexico's industrial output contracts 0.9% in March

ISTANBUL

Mexico's industrial output contracted 0.9% in March, compared to the previous month, the country's statistical authority announced Friday.

The figure came in worse than market estimate of a 0.2% contraction, while industrial production increased 0.5% in February.

Industrial output in mining decreased 3.5%, but construction rose 1.3%, according to the National Institute of Statistics and Geography (INEGI).

On an annual basis, industrial activity was up 1.6% in March, compared to the same month of last year.

That figure also came lower than the market expectation of a 2.7% gain, while it showed an increase of 3.3% in February.

While industrial output in mining increased 2.5% year-on-year, construction rose 2%, according to the figures.

At an annual rate and with seasonally adjusted series, the monthly industrial activity indicator grew 1.5% in real terms during March, INEGI said in a statement.