Mexico: Business confidence moderates but remains positive
January 6, 2012
In line with recent developments in the United States, the manufacturing sector continues to show signs of resilience. In December, the purchasing managers' index (PMI) elaborated by the Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) recorded 52.0 points. Although the print came in below the 53.5 points tallied in November, the reading was only a notch below market expectations of 52.6 points and still above the 50-point threshold that indicates the manufacturing sector is expanding. According to the Institute, ?four out of five sub indices composing the IMEF manufacturing index increased in December 2011 over its previous year's value?, with the production sub index recording the largest increase. At the current level, the overall index is 1.0 points higher than the same month the previous year.