Mexico Output Slows

Mexico’s industrial output grew in August by 5.8% year on year, according to the national institute of information and data (INEGI), taking increased production for the year through August to 5.5%. Cooling growth in the manufacturing sector, which expanded 5.4%, contributed towards an overall slowdown in growth, with monthly output in August down 0.06% compared with July. Manufacturing looks set to lose steam as the year progresses as a result of a drop-off in auto production; the automotive sector accounts for around 10% of industrial output. Results for auto production in September showed growth had slowed to 12% from 19.5% in August and a high of 52% in June.