Thread: Mexico industrial production jumps 5.4% in Feb

Mexico industrial production jumps 5.4% in Feb

REUTERS

12:59 p.m. April 17, 2008

MEXICO CITY – Mexican industrial output jumped 5.4 percent in February compared with the same month a year ago, the government said Thursday, growing more than twice as quickly as analysts had forecast.
Analysts polled by Reuters has forecast a 2.5 percent increase.

Production edged down 0.74 percent from January, the government said.
Mexico sends about 80 percent of its exports to the United States, and economists see Mexico's industrial sector and the larger economy slowing this year amid predictions of a U.S. recession.

The February acceleration in Mexico comes despite a slowdown at factories in the United States, where industrial output fell 0.5 percent in the same month.

The report showed manufacturing activity was up 5.3 percent in February from a year earlier, helped by more automobile production.

Construction, seen buoying the economy this year as the government invests billions of dollars in infrastructure projects, jumped 6.1 percent.

Output from utilities jumped by 8.3 percent while mining output increased 1.5 percent.

(Reporting by Jason Lange; Editing by Dan Grebler)

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Mexico sends about 80 percent of its exports to the United States

Yeah, and most of those exports probably used to be manufactured right here in the United States!