Macro Analysis /
Global

Industrial production – Positive surprise in August, lifted by construction

  • Industry pricked up 0.4% m/m (+5.5% y/y), with weakness in mining (-0.1%) but better in construction (1.9%)

  • Meanwhile, manufacturing grew 0.2%, with transportation down 0.9% as it remains affected by supply shortages

  • We still see downside risks on both global and local headwinds that will likely keep limiting a more forceful rebound

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
12 October 2021
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