Mexico's industrial production slumped 30.7 percent over a year earlier in May 2020, following a 29.3 percent plunge in the previous month and compared with market expectations of a 24.3 percent drop. It was the biggest decline in industrial output on record, as several factories remained close amid the coronavirus pandemic. Productions shrank further in manufacturing (-37.1 percent from -35.4 percent in April); mining (-5.9 percent from -3.9 percent); and utilities (-13.1 percent from -3.4 percent). On the other hand, construction output declined 36.3 percent, less than a 37.9 percent slump in April. On a seasonally monthly basis, industrial production went down 1.8 percent, after dropping an upwardly revised record 25.2 percent in the prior month, missing forecasts of a 0.8 percent gain.
Industrial Production in Mexico averaged 1.50 percent from 1980 until 2020, reaching an all time high of 23.80 percent in October of 1996 and a record low of -30.70 percent in May of 2020. This page provides - Mexico Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Instituto Nacional de Estadística y Geografía (INEGI)
Industrial Production in Mexico is expected to be -2.00 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 3.70 in 12 months time. In the long-term, the Mexico Industrial Production is projected to trend around 2.50 percent in 2021 and 1.70 percent in 2022, according to our econometric models.