Economics
Mexico’s Industrial Output Surprise Boosts GDP Outlook
- Industrial production data for December beat expectations
- Preliminary data had signaled Mexico fell into recession
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Mexico’s industrial production expanded more than expected in December, suggesting the country’s economic data for the fourth quarter may be revised slightly upwards.
Industrial production rose 3% compared to December 2020, above a 2.1% estimate by analysts in a Bloomberg survey, according to data released by the country’s statistics institute on Friday. On a monthly basis, the output of Mexican industries grew 1.2% compared to November, also above expectations.