Mexico: Manufacturing sentiment moderates in March
April 1, 2012
In March, the manufacturing index elaborated by the Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) moderated to 52.7 points from 53.7 points in February. The reading fell short of market expectations, which had the index at 54.8 points. At the current level, the index sits 1.5 points below the level reached in the same month last year but still above the 50-point threshold that indicates an expansion of the manufacturing sector. The moderation was broad-based, as four out of the five sub-indices that compose the manufacturing index declined compared to March last year. Nevertheless, the IMEF stated that, despite experiencing a change in trend over the previous four months, the level maintained by the index augurs moderate growth will continue and that economic activity should maintain dynamism going forward.