Mexico's industrial output rises in September, higher than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's industrial output in September increased annually and monthly, both coming slightly higher than market estimates, the country's statistical authority announced on Friday.

Industrial output in September annually rose 4.5% in seasonally adjusted terms, the National Institute of Statistics and Geography (INEGI) said in a statement.

The market expectation for the figure was to show an annual gain of 4.4%, following a 4.7% increase in August.

While the construction sector expanded 19.5% annually, manufacturing industries posted an increase of 1.2%, according to the statement.

On a monthly basis, industrial production in September increased 0.2%, compared to the previous month. That figure also came in slightly higher than the market expectation of a 0.1% gain, following a 0.3% increase in August.

In September, manufacturing grew 1.7%, but mining contracted 1%, INEGI said in the statement.