Monday, September 12, 2011

Mexico industrial activity

This chart, taken from this new Sep 12th dataset out of Mexico's INEGI stats people, shows the development of five key industrial sectors to Mexico's economy since 2009. The lines show the year-over-year percentage change in electricity (generation/transmission etc), hydrocarbons production (oil + gas), mining (metallic and non-metallic, plus ancillary industries around mining),  Construction (both residential type and civil engineering type) and manufacturing:

In a nutshell, mining and oil are lagging, meanwhile Mexico is building itself up nicely above ground. It also shows that the record prices being fetched at market for metals is the real reason for the flashy growth numbers we see in dollar terms, not any extra mining work being done.