Mexico PMI December 2018

Mexico

Mexico: Manufacturing ends the year on a low

January 2, 2019

Mexico’s manufacturing sector appeared to contract in December. On the one hand, the seasonally-adjusted manufacturing indicator produced by the Mexican Institute of Financial Executives (IMEF) fell from November’s 49.7 points to 49.3 points. As such, the indicator remained below the 50-point threshold that separates expansion from contraction in the manufacturing sector. According to the IMEF, the deterioration was driven by a fall in output and new orders. Employment, as a result, fell.

On the other, the manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit also remained below the 50-point threshold in December. The manufacturing PMI came in at 49.7 points in December (November: 49.7 points) on a back-to-back decline in output. New orders rose tepidly but were unable to ease firms’ anxieties; business sentiment hit a series-long low amid what appeared to firms as a slowdown.

Mexico Industrial Production Forecast


According to the FocusEconomics Consensus Forecast panel, industrial production will increase 1.5% in 2019. The panel of analysts surveyed this month sees industrial production expanding 1.9% in 2020.


Author:, Economist

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Mexico PMI December 2018

Note: Manufacturing ISM Report On Business (PMI) for the U.S., seasonally-adjusted manufacturing index for Mexico and IHS Markit Manufacturing PMI. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate to a contraction.
Source: Institute for Supply Management (ISM), Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) and IHS Markit.


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