Construction drives the advance of industrial activity in August 2021
El Universal | October 13, 2021 |

The monthly indicator of industrial activity advanced 0.4% in real terms in August 2021 compared to the previous month, thus accumulating two consecutive months on the rise.

This monthly advance in August was driven mainly by the dynamism of construction, according to the information published by Inegi.

The surprise was due to a very good growth in construction, which with a monthly increase of 1.86% had its best performance in the last six months, and due to a less drastic drop than expected in mining, since the variation of -0.08 % is given in the context of the accident on the Ku-Alfa platform.

Thus, the economic outlook for the quarter improves slightly, although the outlook for the industry continues to be challenging given a challenging situation, warned Daniel Arias, an economic analyst at Monex.

On the rise, the construction of civil engineering works stood out for the second consecutive month with an increase of 3.15% and services related to mining, 5.70%.

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These movements were enough to counteract the effects of the -2.41% drop in oil and gas extraction and -3.70% of activities related to the electricity industry, a segment that also suffered atypical effects due to rains, floods and strong winds. caused by Hurricane Grace.

For its part, manufacturing once again faced complications and had a very modest monthly rise of 0.21%. Inside, 11 of the 22 elements grew and the rest registered falls.

The production of transportation equipment fell 2.99% and electrical appliances -0.86%, was the most affected by the new episodes of shortage in the global supply of microcomponents.

However, with this result, manufacturing begins to consolidate above its level at the beginning of 2020, which maintains it as the best performing sector within industrial activity, added Arias.

In its annual comparison, industrial production increased 5.2% in real terms in the month in question.

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By sectors of economic activity, construction rose 7.6%, manufacturing industries were higher by 6.1% and mining rose 1.7%; while the generation, transmission and distribution of electricity, water and gas supply through pipelines to the final consumer fell 4.9%.

In the opinion of the Monex group specialist, today's data is good news for the economy, since the weakness of the industrial sector was one of the risk elements for the quarter and so far there have been no contractions.

Even the advance of July was revised from 1.05% monthly to 1.15%, which shows that the industry has had a much greater resilience than expected, especially thanks to the advances 

in construction, added Arias. Thus, the risk of a contraction in GDP for the quarter is reduced, although the outlook is not without its challenges.

In Solili you can consult industrial warehouses available in Guadalajara, Tijuana, Ciudad de México and Ciudad Juárez

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