MEXICO CITY (Reuters) - Mexico’s economy picked up slightly in April from the prior month as an expansion in services offset a slump in industrial output.
The economy grew 0.1 percent in April from March, the national statistics agency said on Monday, after posting two negative monthly readings in a row.
Services grew 0.5 percent, month-on-month, compared to a 0.3 percent decline in industrial output and a 0.9 percent drop in agricultural production, the data showed.
Mexico’s economy is seen growing around 2 percent this year by the government and analysts after data showed no major impact during the first quarter from the cloud of uncertainty over U.S. trade policy under President Donald Trump.
Still, the data showed the economy contracted 0.7 percent from April of 2016.
A separate report from the statistics office showed the seasonally adjusted unemployment rate ticked down to 3.5 percent.
Reporting by Michael O'Boyle