Mexico: Manufacturing and non-manufacturing PMI readings stay weak in August
Latest reading: The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) held steady at 49.7 in August, unchanged from July. The index remained below the 50.0 no-change threshold for a twenty-ninth consecutive month, indicating that manufacturing-sector operating conditions remained in contractionary territory. New orders improved markedly, rising above the expansion threshold to 51.1, while output slipped back into contraction at 49.7. The employment component also improved but remained below 50.0, pointing to continued weakness in manufacturing labor conditions. Delivery times declined further and remained in contractionary territory, while inventories eased but stayed above the expansion threshold.
Meanwhile, the non-manufacturing PMI fell from 49.6 in July to 48.7 in August, moving further below the expansion threshold. Readings for new orders, output, and employment all deteriorated and remained below 50.0, while the reading for delivery times also declined but stayed in expansionary territory.