Construction activity, for its part, has slowed and is somewhat erratic, apparently still affected by the restructuring process to which this sector has been subject in the last few years. To round out the list, manufacturing production, which holds a tight relationship with industry and manufacturing in the United States, has been less dynamic.
Given significant vertical integration between the two countries, slower U.S. industrial activity, reflecting the downsizing of the oil sector amid low prices, has capped the expansion of Mexican manufacturing. As a result, manufacturing exports have lost steam, with declining rates of annual growth falling into negative territory in recent quarters.