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  • howsmydrivingal howsmydrivingal Apr 12, 2004 6:20 PM Flag

    Mexican Economy 3rd month of growth

    What is good for the Mexican economy is good for RC.

    Mexico Feb industrial output grows for 3rd month

    Monday April 12, 4:44 PM EDT

    (Recasts first paragraph with details throughout)

    MEXICO CITY, April 12 (Reuters) - Mexico's industrial output rose in February for a third straight month as the economy picked up steam with the U.S. recovery.

    The finance ministry said on Monday that industrial output expanded 2.2 percent in February from the same month last year, exactly in line with expectations of a Reuters survey of economists.

    The result was up from January's mild 0.8 percent growth but slightly below December's 2.4 percent surge, which ended eight months of declining industrial activity in Mexico.

    But the finance ministry also said industrial production fell 0.58 percent on a seasonally adjusted basis in February from January, a decline that hints there is some lingering weakness on a month-to-month basis.

    Growth was strongest in the mining and construction sectors but key manufacturing output, accounting for 75 percent of Mexican industry, was also positive in February after falling slightly in January.

    Manufacturing output edged up 1.2 percent from February last year, while mining soared 9.6 percent and construction jumped 5.4 percent.