The national statistics agency showed the biggest drops came from the mining sector, which fell 3.5% on a yearly basis, and manufacturers, which posted a 1.1% drop.
Year-on-year, Mexican industrial output was 1.6% higher, but that was also much lower than the 2.7% expected by economists. William Jackson, chief emerging markets economist at Capital Economics, said "the larger-than-expected decline in Mexican industrial production in March suggests the GDP growth figure of 1.1% q/q published in the
flash estimate
may be revised down."
(Reporting by Natalia Siniawski and Gabriel Araujo; Editing by
Chizu Nomiyama)