Mexico: Manufacturing sentiment reaches highest level in seven months in January
February 5, 2013
The seasonally-adjusted IMEF manufacturing index rose to 53.3 points in January from a revised 52.4 points in December (previously reported: 53.5 points). The figure represents the highest level in seven months but, nonetheless, came in slightly below market expectations. According to the IMEF, the "evolution of the indicator suggests a marginal improvement in the manufacturing sector for the quarter of the year". A reading above the 50-point threshold indicates that the sector is expanding.
Three out of the five sub-categories that compose the index improved over the previous month, most notably the one related to the production level. In contrast, the sub-index that gauges supplier deliveries dropped in January and is now the only sub-category below the 50-point threshold.
Meanwhile, in the United States, the ISM manufacturing index jumped from 50.2 points in December to 53.1 points in January. Building on the strong monthly increase, the index reached its highest level in nine months, which bodes well for stronger growth in Mexican manufacturing sector going forward.