Mexico: Manufacturing sector recovers somewhat in April
May 8, 2019
Mexico’s manufacturing sector appeared to recover somewhat at the outset of the second quarter. The seasonally-adjusted manufacturing Purchasing Managers’ Index (PMI) produced by the Mexican Institute of Financial Executives (IMEF) inched up to 52.0 points in April from 51.2 points in March. In turn, the indicator began climbing away from the 50-point threshold—and signaled a broad-based expansion of the manufacturing sector.
Similarly, the manufacturing PMI produced by IHS Markit ticked higher in April; it rose to 50.1 points from to 49.8 points in March. Accordingly, the indicator continued hovering near the 50-point threshold and hinted at a stabilization of the manufacturing sector. According to IHS Markit, the improvement was driven almost entirely by new orders, which offset a fall in output. Moreover, firms remained optimistic in April.
Author: Christopher Thomas, Economist