MEXICO CITY – Mexican industrial output dipped less than expected in February as construction contracted sharply but factory production picked up, data showed on Monday.
Industrial output fell 0.1 percent from January in seasonally adjusted terms, the national statistics agency said, compared to expectations for a 0.35 percent drop in a Reuters poll.
Among the components of industrial output, the construction sector fell 2.5 percent month-on-month after posting a big increase in January.
Factory production rose 0.5 percent in February compared to January. Mexico exports mostly factory goods and it sends nearly 80 percent to the United States. Uneven U.S. demand weighed on growth in Latin America’s No. 2 economy last year.