Mexico Industrial Production Up, Beats Expectations Reuters
go to original August 15, 2012

Mexican industrial output rose the most in nine months in June from May, led by manufacturing gains and underscoring solid growth that bodes for steady interest rates in the coming months.

Production rose 1.3 percent in June from May, the national statistics agency said this week, better than expected in a Reuters poll that saw a 1 percent rise after a dip in May, which was revised to a 0.65 percent slide.

The pace of growth was the fastest since last September as manufacturing output rose 1.6 percent from the previous month.

Latin America's No. 2 economy has been shielded from a wider global slowdown that has pushed Brazil to cut interest rates due to U.S. demand for local manufactured goods, although exports have begun to slow.

Compared with June 2011, industrial output rose 3.7 percent, above an expected 3.5 percent increase and steady versus an upwardly revised 3.5 percent rate in May.

Mexican economic growth likely slowed in the second quarter to 0.8 percent from the first quarter, when it posted a 1.3 percent advance, according to a Reuters poll ahead of gross domestic product data due on Thursday.

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