Mexico PMI July 2021

Mexico

Mexico: Manufacturing PMI is stable in July; non-Manufacturing PMI ebbs but remains in expansionary territory

August 2, 2021

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) came in at 52.2 in July, matching June's 52.2. As a result, the index remained above the 50-threshold and thus indicated an expansion in activity. Slightly slower growth in production and new orders was offset by faster growth in employment and stocks of inputs.

Meanwhile, the non-Manufacturing PMI came in at 52.9 in July, compared to 54.0 in June, amid slower growth in output and new orders—potentially influenced by the surge in Covid-19 cases linked to the Delta variant.

The LatinFocus panel projects the economy to grow 5.7% in 2021, which is up 0.4 percentage points from last month’s forecast. For 2022, the panel sees GDP growth at 3.0%.


Author:, Economist

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Mexico PMI July 2021 0

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) and IHS Markit.


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