Industrial activity in Mexico grows for fifth month, up 2 pct in October
Source: Xinhua | 2020-12-12
Mexico's industrial activity rose 2 percent in October compared to September, marking five months in a row of growth, largely driven by construction, the National Institute of Statistics and Geography (Inegi) said on Friday.
However, between January and October, Mexican industrial activity, which relies heavily on U.S. industrial activity, plunged an accumulated 11.3 percent, after dropping 3.3 percent in October year-on-year, Inegi said.
Responding to the Inegi report, the Banorte financial group noted that despite the good monthly performance, the risks to industrial activity have increased due to a rebound in cases of the novel coronavirus (COVID-19) disease.
"Epidemiological conditions began to deteriorate in October and have maintained a negative trend in November and so far in December," Banorte warned.
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