Mexico - Industrial Production

For Mexico, the industrial production index; for mining, utilities, construction and manufacturing; detailed by NAICS. Monthly from 1993.

Capacity utilization rate for manufacturing, monthly from 2007 (back-extended to 1998).

Industrial production

Active:

• Classification: NAICS
• Measurement: Fixed-base index relative to 2018 (Index 2018=100)
• Adjustments:
  • Seasonally adjusted (SA)
  • Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date: Uniformly 1993m1

Predecessors:

• 2103=100 - 1993m1 to 2023m6 ("_13")
• 2008=100 - 1993m1 to 2017m8 ("_08")
• 2003=100 - 1993m1 to 2013m6 ("_03")

Capacity utilization

Active:

• Benchmark: "Base 2018"
• Measurement: Percent (%)
• Adjustments:
  • Seasonally adjusted (SA)
  • Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date as reported: 2018m1
• Start date extended: 1998m1

Predecessors:

• "Base 2013" - 2013m1* to 2023m3 ("_23")
• 2007m1* to 2019m2 ("_19")

The source writes:

The main source of information is the Monthly Industrial Survey that is supplemented with data from cameras and producer associations and public and private institutions, such as: PEMEX, Banco de Mexico (Banxico), Mexican Association of the Automotive, A. C. and the National Association of Manufacturers Bus, Truck and tractor, A. C., among others. 

The data contained in this release are generated by the INEGI based on indicators of industrial activity of the System of National Accounts of Mexico and are made available on the date specified in the Schedule of Dissemination of Information Business Tendency Survey.

The Monthly Indicator of the Industrial Activity is expressed as an index of quantities of Laspeyres formulation, which is based in the year 2003, which reflects the actual volume of gross value added at basic prices obtained in the month. The conceptual framework and methodology used is similar to that used in the accounts of Goods and Services System of National Accounts, Mexico (SCNM). Indices are calculated physical volume of 374 to 321 kinds of economic activity in the Industrial Classification System of North America (NAICS) referred to the year 2002. These classes make up the 29 subsectors of economic activity included in this indicator, grouped into 4 segments: Mining, Electricity, Gas and Water supply pipeline to the final consumer, construction and manufacturing industries.

Mining: Includes economic units principally engaged in the extraction of oil and gas, and metal ores and non-metallic; includes quarrying operations in wells, operations profit, as well as other preparations are usually in the mine. It also includes support services exclusive to mining. To calculate the indicator used data from the Statistics Minerometalúrgica Industry and the Monthly Industrial Survey compiled by the INEGI, the company Exportadora de Sal, S. A. C. V. and Petroleos Mexicanos (PEMEX).

Electricity, water and gas supply pipeline to the ultimate consumer: Includes services of generation, transmission and supply of electricity for sale; to the recruitment, and drinking water supply, as well as the capture and treatment of wastewater, and the supply of gas by pipeline to the final consumer, the main sources are the Federal Electricity Commission, Energy Regulatory Commission (CRE) and PEMEX.

Construction: Comprises activities Residential construction, whether single or multifamily housing; to the non-residential construction, such as ships and industrial plants, commercial buildings, and institutional services to the construction of civil engineering works such as bridges, roads , Dams, railways, power plants and ports; to the completion of specialized work, such as foundations, erection of prefabricated structures, installation of equipment in buildings and prefabricated materials, finishes in buildings, demolition, filled with soil, earth movement, excavation , And other preparations drained soils. This may include new construction, expansion, remodeling, maintenance or repair of buildings. It also includes the construction operations; to the supervision and administration of construction works and construction works in combination with service activities.

Thus, this indicator is based on the weighted behavior of apparent consumption (production and / or domestic over imported goods exported minus) from the main materials used by the sub-236 Building, 237 Construction of civil engineering work or heavy and 238 Specialized jobs for the construction of derivative NAICS. For the calculation is also used data from the Balance of Trade, sales of domestically produced or supplied by chambers, associations and monthly surveys, such as minerometalúrgica, the manufacturing and related to the construction.

Manufacturing: It covers the activities engaged in the processing mechanics, physics or chemistry of materials or substances for the purpose of obtaining new products. Also considered manufacturing activities maquila, the assemblage of parts and components or products manufactured; the reconstruction of machinery and industrial equipment, commercial, office and others, and the finished products manufactured by dyeing, heat treatment, plating and processes similar. Also included here is the mixture of materials such as lubricating oil, plastic resins, paints and liquor, among others. The work of transformation can be done at sites such as plants, factories, workshops, maquiladora or households, whether that work is carried out using machines operated by power or computer manual.

Moody's Analytics supplements

For the industrial production index, we back-extend (1970m1 to 1992m12) using the predecessor(s) and IMF.

For the capacity utilization rate (associated with the "base 2018" EMIM survey) we back-extend to 1998m1 over three intervals using three series:

• 2013m1 to 2023m3 - Predecessor "_23" associated with the "base 2013" EMIM survey by INEGI.
• 2007m1 to 2012m12 - Predecessor "_19" associated with the "base 2008" EMIM survey by INEGI.
• 1998m1 to 2006m12 - "Expectation of capacity utilization" from the Bank of Mexico production survey.

For the capacity utilization rate, we construct a seasonally adjusted counterpart using X-13ARIMA-SEATS.

Further reading

At the source:

• Encuesta Mensual de la Industria Manufacturera (EMIM). Serie 2018
• Encuesta Mensual de la Industria Manufacturera (EMIM) Serie 2013 (pdf)
• Encuestas Económicas Nacionales. Metodología de la construcción de la serie 2013
• Encuesta Mensual de la Industria Manufacturera (EMIM) - 2007 - 2019. Base 2008
• Encuesta Industrial Mensual (EIM) 1994 - 2008

At IMF (SDDS):

• Production index (Jan 2023)

• Sep 2005 - Initial version.
• May 2008 - Rebased to 2003.
• Sep 2013 - Rebased to 2008.
• Nov 2017 - Rebased to 2013.
• 28 Jun 2023, Phillip Thorne - Capacity utilization rebased to 2018: Properties, Further reading.
• 27 Jul 2023, Phillip Thorne - Changed method to back-extend capacity utilization rate.
• 12 Sep 2023, Phillip Thorne - IPI rebased to 2018.