Mexico PMI May 2022

Mexico

Mexico: Manufacturing and non-Manufacturing PMIs ease in May

June 1, 2022

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) came in at 50.8 in May, down from April's 52.4. As a result, the index remained above the 50.0 no-change mark, pointing to a continued, albeit moderating, improvement in business conditions from the previous month. Slower expansions in new orders and stock building, as well as a contraction in employment, drove May’s reading.

Meanwhile, the non-Manufacturing PMI stood at 52.5 in May, down from April’s 53.0, amid slower growth in new orders, output and employment. Taken together, the PMI figures for April and May suggest moderate economic growth in the second quarter.

FocusEconomics panelists project the economy to expand 2.0% in 2022, which is unchanged from last month’s forecast. In 2023, they see GDP growth waning to 2.2%.


Author:, Economist

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Mexico PMI May 2022

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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