National Institute of Geography & Statistics said that Mexican industrial production declined by 10.6% YoY in June 2009 as compared to the same month of last year and dropped by 0.87% MoM as compared to the previous month.

For the first 6 months of 2009, Mexico's total industrial output was down by 10.7% YoY from the same period of the prior year.

The manufacturing sector dropped by 15.2% YoY in June 2009 as compared to June 2008 and fell by 1.23% MoM as compared to May, as production declined across the transport, metals, and electronics sectors.

Mexico's construction sector shrank 6.5% YoY in June while it grew 0.82% MoM. In June, Mexico’s mining industry contracted by 2% YoY and was down by 2.48% MoM.

The drop in Mexico’s industrial output in June was largely due to the decrease in US’ demand for Mexican-made goods. However, the figures also show that Mexico’s recession may be moderating, as the June drop was not as steep as the 11.6% drop in May’s output from a year earlier.

(Sourced from SteelOrbis)
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