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Mexico PMI February 2020

Mexico: Manufacturing PMIs diverge in February

The seasonally-adjusted manufacturing Purchasing Managers’ Index (PMI) produced by the Mexican Institute of Financial Executives (IMEF) ticked down to 49.1 in February from 49.3 in January, signaling a slightly stronger contraction of the manufacturing sector. Notably, a decline in product supplies in February, after they grew in the previous month, drove the indicator’s slip.

In contrast, the seasonally-adjusted manufacturing PMI produced by IHS Markit climbed from 49.0 in January to 50.0 in February, indicating a stabilization of business conditions in the manufacturing sector after having deteriorated in the three months prior. February’s increase primarily reflected a return to growth of new orders and production, with the latter registering the first rise in nine months.

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