Mexico's industrial production slumped 2.9 percent from a year earlier in June 2019, following a 3.3 percent drop in the previous month and worse than market expectations of a 2.5 percent contraction. Manufacturing shrank 0.8 percent (vs 0.7 percent in May) and construction output plunged 6.8 percent (vs -9.6 percent in May). Also, mining & quarrying fell 5.6 percent (vs -8.9 percent in May), while utilities output rose 1.3 percent (vs 2.3 percent in May). On a seasonally monthly basis, industrial production rebounded 1.1 percent, after a 2.5 percent slump in the previous month. Industrial Production in Mexico averaged 1.72 percent from 1980 until 2019, reaching an all time high of 23.82 percent in October of 1996 and a record low of -17.50 percent in October of 1995.
Industrial Production in Mexico is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Mexico to stand at 1.50 in 12 months time. In the long-term, the Mexico Industrial Production is projected to trend around 1.60 percent in 2020, according to our econometric models.