Mexico: Manufacturing sentiment reaches highest level in over five years
June 4, 2012
In May, the manufacturing index elaborated by the Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) rose to 54.4 points from 52.7 points in April. The reading represents its highest level since March 2007 and overshot market expectations that had the index at 51.9 points. Building on the monthly rise, the index now sits 0.6 points above the value reached in the same month last year, which represents an improvement compared to a revised 0.6-point decline observed in April. In addition, the index rose further above the 50-point threshold that indicates that the manufacturing sector is expanding. All five sub-indices that compose the index improved in annual terms over the previous month, in particular new orders and production. Against this backdrop, the IMEF reaffirmed that "the economy maintains its dynamism".