Mexico PMI April 2022

Mexico

Mexico: Manufacturing PMI rises in April; non-Manufacturing PMI dips but remains in expansionary territory

May 1, 2022

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) came in at 52.5 in April, up from March's 51.9. Consequently, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in business conditions compared to the previous month. The reading was driven by faster growth in new orders, inventories and output, while employment growth slowed somewhat.

The non-Manufacturing PMI clocked in at 53.0 in April, down from March’s 53.6, amid somewhat slower new orders and output growth. Overall, the PMI data indicates that the economy continued to expand at the outset of the second quarter, aided by the large drop-off in Covid-19 cases in recent months and strong growth in remittances.

FocusEconomics panelists project the economy to expand 2.0% in 2022, which is down 0.4 percentage points from last month’s forecast. In 2023, they see GDP growth waning to 2.2%.


Author:, Economist

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Mexico PMI April 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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