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LatinNews Daily - 13 January 2025

In brief: Mexico’s industrial activity declines in yearly terms

*Mexico’s national statistics institute (Inegi) has reported a year-on-year decrease of 0.9% in industrial activity for November 2024. In monthly terms, Inegi’s index of industrial activity (Imai) increased by 0.1% as compared to October. This follows a monthly drop of 1.2% in October, when the Imai was down 3.3% in yearly terms. In seasonally adjusted yearly terms, the decline in November was driven by contractions in mining (-4.5%) and construction (-4.4%), while positive momentum was shown in utilities (electricity generation and transmission, provision of water and gas), which rose by 2.9%, and manufacturing (+0.5%). Overall industrial activity for the first ten months of 2024 showed accumulated growth of 0.5% as compared to the same period of the previous year. The modest monthly growth in November 2024 was attributed to monthly increases in utilities (+0.8%), manufacturing (+0.7%), and mining (+0.4%), but was offset by a decline in construction (-1.8%).

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