Jose Ruiz

The internal market remains sluggish due to high unemployment and uncertainty but that can change as industrial production continues to rise on surging demand in the U.S. which accounts to about 80 percent of Mexico’s total exports.

Industrial production in March rose the most in almost four years as output climbed to almost 8 percent from a year ago according the most recent report of the national statistics institute. The number is an unexpected but positive surprise over the 5.9 percent that had been predicted by the median of 17 forecasts compiled by Bloomberg.

The increase is directly linked to an 85 percent jump in automotive industry production as the sector in Mexico continues to recover.

This will most likely have a cascading effect boosting internal demand in the second half of the year as manufacturing drives employment, brings back purchasing power and consumer confidence.

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