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Manufacturing PMI in Mexico lowest since October 2013

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Staff writer |
Manufacturing Mexico
Mexican economy   Markit Mexico Manufacturing PMI

June data indicated a setback for the Mexican manufacturing sector, following the solid improvement in business conditions recorded during May.

The latest survey highlighted a fractional reduction in production levels, which ended more than two-and-a-half years of sustained output growth. Moreover, export sales were close to stagnation amid reports of heightened risk aversion among clients in June.

Subdued demand in key export markets in turn contributed to the slowest upturn in overall new order levels since October 2013.

The seasonally adjusted Mexico Manufacturing Purchasing Managers’ Index (PMI) registered 51.1 in June, down from 53.6 in May and only slightly above the 50.0 no-change threshold.

Moreover, the latest reading signalled the weakest improvement in overall business conditions across the manufacturing sector since October 2013. A reduction in output levels alongside softer rates of new business and employment growth were the main negative influences on the headline PMI in June.

Although only marginal, the latest survey recorded a decline in manufacturing output for the first time in over two-and-a-half years. â– 

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