Mexico: Manufacturing PMI rises in January; non-manufacturing PMI dips
The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 51.6 in January from December’s 50.0. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing sector operating conditions compared to the previous month. The headline print reflected improvements in output, new orders and job creation.
The non-Manufacturing PMI stood at 52.0 in January, down from December’s 52.2, on slower new orders and output growth.
Taken together, the PMI data suggests economic activity could have picked up at the outset of 2024, following Q4’s disappointing GDP reading.