Mexico's industrial production falls 0.7% in December, more than estimates

Market expectation for figure was to show monthly decrease of 0.1%

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's industrial production fell 0.7% in December from the previous month, more than estimated, according to the country's statistical authority on Friday.

The market expectation for the figure was to show a monthly decrease of 0.1%.

Industrial production in the North American country contracted 1% in November.

The manufacturing sector led the decrease in December with a decline of 1.3%, followed by 1.2% in construction, the National Institute of Statistics and Geography (INEGI) said in a statement.

On an annual basis, however, industrial activity in December expanded 1.2%, compared to the same month of 2022.

The expansion was led by construction, which increased 15.5% year-on-year.

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