Overview

• Manufacturing output contracted 2.1% between March and June, marking four straight months of decline and returning production to levels last seen in September 2007.
• Seasonally adjusted industrial production fell 1.2% in June compared with May, reversing earlier monthly gains and signaling cooling momentum.
• Automotive production dropped to 37,112 units in July, down 16.5% year-on-year and 13.4% month-on-month as a stronger peso versus the real hurt export appeal.
• Retail sales by small and medium enterprises fell 2% year-on-year and 5.7% month-on-month in July, extending a three-month downturn amid soft domestic demand.
• Cement shipments declined 2.8% year-on-year in July and the Construya private construction index edged down 0.47% monthly, highlighting subdued building activity.