MEXICO CITY, Oct 12 (Reuters) - Mexican industrial output fell more than expected in August as the economic downturn hit U.S. consumers' demand for cars, televisions and other goods made south of the border.
Production dropped 7.3 percent from a year earlier , and was off 0.22 percent from July, the national statistics agency said on Monday.
Mexico's government predicts the economy may have already emerged from a deep recession, though the central bank has warned that any recovery will be slow.
Monday's data showed that output in the industrial sector, which makes up about 40 percent of Mexico's economy, is still higher than it was mid-year.
The annual drop in output exceeded the 6.20 percent decline forecast by analysts in a Reuters poll.
The statistics agency also reported that July gross fixed investment fell by 14.1 percent, compared with a 11.5 percent decline predicted in a Reuters poll.
Mexico sends about 80 percent of its exports to the United States. The U.S. recession has hurt companies across the country, from television factories near the U.S. border to auto plans in the interior.
((Reporting by Jason Lange; Editing by Gary Crosse)) Keywords: MEXICO ECONOMY/INDUSTRIAL (jason.lange@thomsonreuters.com; +5255-5282-7151; Reuters Messaging: jason.lange.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Production dropped 7.3 percent from a year earlier , and was off 0.22 percent from July, the national statistics agency said on Monday.
Mexico's government predicts the economy may have already emerged from a deep recession, though the central bank has warned that any recovery will be slow.
Monday's data showed that output in the industrial sector, which makes up about 40 percent of Mexico's economy, is still higher than it was mid-year.
The annual drop in output exceeded the 6.20 percent decline forecast by analysts in a Reuters poll.
The statistics agency also reported that July gross fixed investment fell by 14.1 percent, compared with a 11.5 percent decline predicted in a Reuters poll.
Mexico sends about 80 percent of its exports to the United States. The U.S. recession has hurt companies across the country, from television factories near the U.S. border to auto plans in the interior.
((Reporting by Jason Lange; Editing by Gary Crosse)) Keywords: MEXICO ECONOMY/INDUSTRIAL (jason.lange@thomsonreuters.com; +5255-5282-7151; Reuters Messaging: jason.lange.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.