Mexico: Manufacturing sentiment falls in July
August 2, 2012
In July, the manufacturing index produced by the Mexican Institute of Financial Executives (IMEF, Instituto Mexicano de Ejecutivos de Finanzas) dropped to 53.3 points from 55.5 points in June. The figure undershot market expectations that had the index at 54.2 points. The index, however, remains above the 50-point threshold that indicates that the manufacturing sector continues to expand. Compared to the same month last year, the manufacturing index rose 2.7% in July, up from the 2.1% increase seen in June. Three out of the five sub-indices that compose the index improved in annual terms over the previous month, in particular supplier deliveries and employment. In contrast, the new orders sub-index contracted 0.3%, which contrasted the 9.5% increase observed in June.