UPDATE 1-Mexico Oct industrial production -0.29 pct vs Sept

* Production +3.7 pct yr/yr vs 5.30 pct consensus

* Output off sharply from 6.30 pct yr/yr in Sept

* Month-over-month figure -0.29 pct from -0.10 in Sept
(Releads, adds background on Mexico economy)

MEXICO CITY, Dec 13 (BestGrowthStock) – Mexican industrial output
expanded modestly in October from year-ago levels and
contracted from the previous month in a sign of weakness for
Latin America’s second-largest economy.

Industrial production fell 0.29 percent in October from
September (MXIP=ECI: ) but was 3.7 percent higher year-over-year
(MXIPY=ECI: ), the national statistics agency said on Monday.

Analysts polled by Reuters had expected an annual rise in
industrial production of 5.30 percent in October and a
month-over-month increase of 0.18 percent.

Mexico’s economy is expected to grow about 5 percent this
year after contracting 6.1 percent in 2009. Economic expansion
is expected to taper off next year, though, with analysts
expecting a 3.5 percent expansion.

Weak consumer demand at home and uncertain recovery in the
United States have both cast a shadow over the outlook for the
domestic economy.

The statistics institute publishes a Spanish-language table
on seasonally adjusted industrial output at:
(Reporting by Patrick Rucker; Editing by Theodore d’Afflisio)

UPDATE 1-Mexico Oct industrial production -0.29 pct vs Sept