Mexico PMI November 2022


Mexico: Manufacturing PMI rises in November; non-manufacturing PMI improves

December 1, 2022

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) came in at 50.5 in November, up from October's 50.0, aided by faster growth in employment and inventories, and a recovery in new orders. As a result, the index moved above the 50.0 no-change threshold, pointing to an improvement in manufacturing sector operating conditions from the previous month.

The non-Manufacturing PMI clocked in at 53.4 in November, up from October’s 51.7 and boosted by faster growth in new orders and output.

Taken together, PMI readings for October and November suggest an ongoing economic expansion in Q4.

The LatinFocus panel projects the economy to grow 1.2% in 2023, which is down 0.1 percentage points from last month’s forecast. For 2024, the panel sees GDP growth at 2.0%.

Author:, Economist

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Mexico PMI Chart

Mexico PMI November 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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