Mexico PMI November 2021

Mexico

Mexico: Manufacturing and non-Manufacturing PMIs ease in November

December 1, 2021

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 in November from October's 50.7. As such, the index remained above the 50-threshold, pointing to a continued, albeit moderating, improvement in business conditions from the previous month. The reading was driven by weaker new orders growth and a contraction in employment, which more than offset faster production growth.

Meanwhile the non-Manufacturing PMI declined from 51.8 in October to 50.1 in November due to weaker readings for new orders, production and employment.

The LatinFocus panel projects the economy to grow 3.0% in 2022, which is unchanged from last month’s forecast. For 2023, the panel sees GDP growth at 2.3%.


Author:, Economist

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Mexico PMI November 2021

Note: Seasonally-adjusted IMEF PMI indices. Readings above 50 indicate an expansion/improvement in the manufacturing sector while readings below 50 indicate a contraction/deterioration.
Source: Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas).


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