off-the-wire

UPDATE 1-Mexico's March industrial production falls more than expected

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds analysts and detail) MEXICO CITY, May 12 (Reuters) - Mexican industrial output fell more than expected, decreasing 0.9% in March from February, the national statistics agency said on Friday. The results were lower than the already expected drop of 0.2% in a Reuters poll of economists.


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)

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