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Investing.com -- Mexico’s industrial production began the year with a dip, as January’s output showed a decrease from both the previous month and the same period last year.
According to data from the statistics institute Inegi, industrial output experienced a 0.4% fall from December in seasonally adjusted terms. This marks the second consecutive monthly decline.
The mining sector was hit particularly hard, with output dropping by 1.8%. This included a 1.3% decrease in oil and gas production and a significant 13% fall in mining-related services.
However, metal and other mineral extraction saw a slight increase, rising by 0.9%.
The manufacturing sector also saw a decrease, with output falling by 0.3% from December. This included a 0.8% drop in the production of vehicles and auto parts.
On a positive note, construction activity showed a small increase, edging up by 0.1% from the previous month.
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