LatinNews Daily - 12 August 2020

* Mexico’s national statistics institute (Inegi) has released its latest index on industrial activity, which shows that industrial production in Mexico fell 14.1% year-on-year in the first six months of 2020. Activity in the construction sub-sector saw the biggest decrease, dropping 20.9%, followed by manufacturing industries (-16.2%), and electricity, water and gas generation and distribution (-5.1%). The mining sub-sector was the only one to record a positive result in in January-June, with a 0.1% year-on-year variation driven by a 2.5% increase in oil & gas extraction and 7.2% increase in services related to mining (metallic and non-metallic mining excluding oil & gas fell by 11.2%). The monthly industrial activity index (IMAI) saw a positive variation in June compared with May, growing 17.9% after the return to a ‘new normal’ and the reopening of the Mexican economy, following containment measures taken to tackle the coronavirus (Covid-19) pandemic. However, this year’s June IMAI fell by 17.5% compared with June 2019.

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