Mexico’s Industrial Production Remained Negative in November


Nov. 20 2020, Updated 10:55 a.m. ET

Mexico’s industrial production fell by 0.5% in November

According to the Instituto Nacional de Estadística y Geografía (INEGI), Mexico’s industrial production fell by 0.5% in November 2015—compared to a downwardly revised 0.1% fall in October.

With a fall in the production activity, the iShares MSCI Mexico Capped (EWW) fell by 7.1% over the past month as of January 11, 2016. Mexican companies America Movil S.A.B. de C.V. (AMOV), CEMEX, S.A.B. de C.V. (CX), Fomento Económico Mexicano, S.A.B de C.V (FMX), and Coca-Cola FEMSA S.A.B de C.V. (KOF) fell by 14.1%, 13.6%, 6.9%, and 6.9%, respectively, over the past month as of January 11, 2016.

On a month-over-month basis, the fall in industrial production was mainly due to a fall in construction by 1.4% and a fall in mining by 0.5% in November 2015.


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Industrial production rose by 0.1% in November from last year

In November, Mexico’s industrial production rose by 0.1% YoY (year-over-year)—compared to a rise of 0.6% in October 2015. Over the past year, the manufacturing output grew by 1.8%. The generation, transmission, and distribution of electricity, the water supply, and gas by pipelines rose by 4.9% in November.

Mining fell by 4.3% and construction fell by 1.2%. This led the fall in industrial production in November.

In manufacturing, the rise was mainly driven by an increase in the beverage industry and snuff by 9.3%. The manufacturing of textiles, except for apparel, rose by 9.8%. The timber industry rose by 10.3% over the past year in November

In November, the fall in petroleum product manufacturing and decreased production in basic metal industries kept industrial production lower. According to the latest manufacturing release, the Mexican economy showed improved performance with solid expansion in new order volumes.

Next, we’ll see how inflationary pressure is building up in emerging economies. We’ll analyze Brazil’s inflation data.


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