Mexico’s industrial production rose 3.3% in October, compared to the same month in 2010, the National Institute of Statistics and Geography, or INEGI, said Monday.
The October figure was boosted by manufacturing, which expanded by 4%, higher output of transportation equipment and growth in the food, basic metals, machinery and equipment, beverages, tobacco, metal products, computing, communications, measurement, electronic components and accessories, plastics and rubber sectors, among others, the INEGI said.
Utilities, including electricity, water and gas, grew 3.6%, while mining, which contracted 1.3%, hurt the industrial sector’s performance.
Non-petroleum energy production rose 9.9%, while petroleum production fell 3.9%.
The construction sector grew 4.7% in October, thanks to growth in residential building, warehouses and industrial plants, commercial construction and services, civil engineering projects and other public works projects.
Industrial production, however, fell 0.54% in October, compared to the prior month, while it grew 4% in real terms during the first 10 months of the year, compared to the same period in 2010.The Bank of Mexico expects the gross domestic product to grow between 3.5% and 4% this year, while the government expects GDP growth of 4%.