Mexico PMI June 2019


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.

According to the LatinFocus Consensus Forecast panel, industrial output will increase 0.3% in 2019. Our panel sees industrial output increasing 1.3% in 2020.

Author: Angela Bouzanis, Lead Economist

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Mexico PMI Chart

Mexico PMI June 2019

Note: Manufacturing ISM Report On Business (PMI) for the U.S., seasonally-adjusted manufacturing index for Mexico and IHS Markit Manufacturing PMI. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate to a contraction.
Source: Institute for Supply Management (ISM), Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) and IHS Markit.

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