Menu Search Facebook Twitter
Search Close
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers

Industrial Production Shows an Annual Growth of 2.3 Percent in the First Quarter

Mexico’s weak industrial production influenced by low performance conditions, especially in the construction sector

Construction is one of the worst performing economic sector in Mexico, photo: Wikipedia
By The News Whatsapp Twitter Facebook Share
11 months ago

During the first quarter, industrial production in Mexico showed an annual growth rate of 2.3 percent, as a result of the adjustment made in the budget for Petróleos Mexicanos (Pemex). This resulted in an additional production decline, with low oil prices pushing down mining sector growth.

This was stated by the specialist and coordinator of the Bachelor of International Business Bilingual School of Economics at the Autonomous University of the State of México (UAEM) Judith Huerta Quiroz, who said that the weak dynamism of industrial production is influenced by current low performance conditions, especially in the construction sector.

She stressed that these results show the disparity in economic growth in the economy of states and sectors. This is the case in Querétaro, where the construction sector represents 13 percent of its economic activity and, during this quarter, fell 6 percent from the previous year.

Moreover, Huerta Quiroz said that low levels of oil and declining oil production has undermined economic conditions in some states. Of the 32 states of the country, 12 showed that their economic growth slowed in December and five showed negative figures for the first quarter of this year.

Of the latter group, Campeche continues to be in recession, with an average rate of -3.9 percent; Chiapas and Mexico City registered a growth of -3.2 and -1.0 percent respectively, and finally Guerrero registered -0.4 percent.

Huerta Quiroz said that the decline in the performance of some states is mainly due to the economic situation that exists, especially in the U.S. economy, where most exports have not grown optimally which has an impact on the Mexico’s manufacturing sector.

Comments Whatsapp Twitter Facebook Share
More From The News

NBA Changes All-Star Game Format; Captai ...

2 weeks ago

World Stocks Mixed as Investors await mo ...

2 weeks ago

Sweden Grants Temporary Asylum to 106-Ye ...

2 weeks ago

Puerto Rico Raises Hurricane's Official ...

2 weeks ago
Most Popular

Argentine Wines, Beyond Malbec

By Thérèse Margolis

Help Still Needed in Xochimilco

By The News

Mexico Bars Quake-Collapsed School in Ca ...

By The Associated Press

N. Korea Minister Calls Trump's Threat ' ...

By The Associated Press

Former Governor of Zacatecas Accused of ...

By The News