Mexico's industrial production declined 1.3 percent from a year earlier in August 2019, following an upwardly revised 1.8 percent fall in the previous month and compared with market consensus of a 1.9 percent decrease. Output dropped less in mining & quarrying (-3.2 percent compared to -7.6 percent in July) and construction (-2.9 percent compared to -8.5 percent). Additionally, production of utilities rose 2.7 percent, rebounding from a 1 percent fall in July. On the other hand, manufacturing output went down 0.5 percent, after a 3 percent gain. On a seasonally monthly basis, industrial output increased 0.8 percent, rebounding from a downwardly revised 0.3 percent decline and beating expectations of a 0.5 percent rise. Industrial Production in Mexico averaged 1.70 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 1.60 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 1.60 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.