Mexico: Manufacturing sentiment soars further in June
July 2, 2012
In June, the manufacturing index produced by the Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) rose to 55.7 points, up from the 54.3 points seen in May. The reading marked the second consecutive monthly improvement and overshot market expectations that had the index falling to 53.1 points. Building on the monthly rise, the manufacturing index reached its highest level since November 2006. Moreover, the reading remains above the 50-point threshold, indicating that the manufacturing sector has been expanding uninterruptedly since August 2009. Three out of the five sub-indices that compose the index improved in annual terms over the previous month, in particular new orders and production, with both now sitting at their highest level since April 2004.