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Mexico PMI June 2023

Mexico: Manufacturing and Non-Manufacturing PMIs rise in June

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 50.9 in June from May’s 49.7. Consequently, the index rose above the 50.0 no-change mark, signaling an improvement in manufacturing sector operating conditions from the previous month. The headline print reflected improvements in output, new orders, employment and inventory purchases.

The Non-Manufacturing PMI clocked in at 51.5 in June, up from May’s 51.0, on the back of faster expansions in output and employment.

Taken together, average manufacturing and non-manufacturing PMI readings for Q2 suggest the economy slowed somewhat in sequential terms, in line with our panelists’ forecasts. The services sector continued to outperform manufacturing.

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