Mexico PMI April 2019


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.

According to the FocusEconomics Consensus Forecast panel, industrial output will increase 0.7% in 2019. Our panel sees industrial output increasing 1.3% in 2020.

Author:, Economist

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Mexico PMI Chart

Mexico PMI April 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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