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Mexico PMI May 2024

Mexico: Manufacturing PMI rises in May; non-manufacturing PMI falls

The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose from 49.1 in April to 49.8 in May. As a result, the index remained below the 50.0 no-change threshold, but signaled a slower deterioration in manufacturing sector operating conditions compared to the previous month. The headline print reflected softer deteriorations in output and new orders.

Meanwhile, the non-Manufacturing PMI came in at 50.0 in May, down from 50.1 in April, on improved readings for employment and output.

Taken together, the PMI readings for April and May suggest soft economic momentum in the second quarter, following only a meager economic expansion in Q1.

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