Mexico: Manufacturing PMIs drop in June
July 1, 2019
Operating conditions in the manufacturing sector appeared to deteriorate at the end of Q2. The seasonally-adjusted manufacturing Purchasing Managers’ Index (PMI) produced by the Mexican Institute of Financial Executives (IMEF) fell to 49.0 points in June from 49.2 points in May. The indicator fell further below the 50.0-point threshold, signaling a contraction in the manufacturing sector. Notably, new orders dropped in the month, largely driving the fall and contrasting the previous five months of growth.
Moreover, the manufacturing PMI produced by IHS Markit fell to the lowest figure seen in the survey’s history in June. It landed at 49.2 in June, below the 50.0 seen in May and points to contracting activity in the manufacturing sector. Contracting sales and new orders led the downturn, while business sentiment also fell in the month.