Mexico: Manufacturing and Services PMIs improve in October
November 1, 2021
The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 50.7 in October from September's 49.9. As such, the index rose above the 50-threshold, signaling an improvement in business conditions from the previous month. The increase was driven by renewed expansions in new orders and employment, as well as faster production growth. Meanwhile, firms grew their inventories at a faster pace compared to the prior month.
Meanwhile, the non-Manufacturing PMI rose from 50.4 to 52.1, due to faster growth in output, new orders and employment. Taken together, the PMI readings suggest a strong start to Q4, likely spurred in part by tumbling Covid-19 cases.
Author: Oliver Reynolds, Economist