The manufacture of transportation equipment registered a 10% year-on-year drop in November 2021 in Mexico, Inegi reported on Tuesday.
Between January and November, this indicator achieved a growth of 9.8%, also considering a real percentage variation with respect to the same period of the previous year.
On the one hand, the decline in November contrasted with the 1.6% growth of the Monthly Industrial Activity Indicator (IMAI) in general.
But, on the other hand, the increase in the manufacture of transportation equipment in the accumulated to November was higher than the overall result of the industry in Mexico during the same period, of 6.9 percent.
Mexico’s automotive sector represents around 4% of the country’s Gross Domestic Product (GDP), approximately 1 million direct jobs and a figure that is around 25% of its total exports.
In November 2021 and with seasonally adjusted figures, the IMAI decreased 0.1% at a monthly rate.
With series adjusted for seasonality, the monthly variation by component in November 2021 had the following behavior: Generation, transmission and distribution of electric power, supply of water and gas through pipelines to the final consumer fell 1.2%; Construction decreased 0.6%; Mining increased 0.4% and Manufacturing Industries remained unchanged.
At an annual rate and with seasonally adjusted series, the IMAI increased 0.7% in real terms last November. By sector of economic activity, Mining rose 1.7% and Manufacturing Industries 1.2%. On the other hand, the Generation, transmission and distribution of electrical energy, supply of water and gas through pipelines to the final consumer decreased 1.6% and Construction one percent.
The IMAI, which measures the real evolution of productive activity, is prepared in order to provide statistical information that allows a broad and timely knowledge of the behavior of the industrial sector.
Monthly IMAI data have been available since January 1993 and are expressed in physical volume indices with a fixed base in 2013 = 100, which are Laspeyres type, publishing monthly indices, accumulated indices and their respective annual variations.
Its geographical coverage is national and incorporates the economic sectors: 21. Mining; 22. Generation, transmission and distribution of electrical energy, supply of water and gas through pipelines to the final consumer; 23. Construction and 31-33. Manufacturing industries and their subsectors according to the 2013 North American Industrial Classification System (SCIAN), reaching a representation of 97% of the gross value added for 2013, the base year of SCNM products.