Mexico moving away from manufacturing
09/04/2008
Studies carried out by state finance and statistics institutions and the Autonomous University of Mexico appear to confirm a move away from manufacturing and towards service industries for the Mexican economy.
A monthly study of manufacturing activity across the country showed December 2007 to have been the lowest month since the studies began three years ago.
The leather sector falls into one category with textiles and apparel and together they showed a decline of 25%, putting their output at the lowest level since 1990, according to commentators.
One expert, César Salazar López, from the university’s Institute for Economic Investigation, said the figures suggested to him that Mexico’s progress as a centre of manufacturing had come to a halt. He added: “Things are flat because most of what we manufacture goes to the United States. What’s worse is that we cannot foresee the Mexican government doing anything to boost domestic demand for goods made in Mexico.”
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