The seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) in December 2020 was 42.4, down 1.3 points from November and the lowest reading in three months. Decreased demand due to the COVID-19 pandemic led to the tenth straight month of decline in factory orders and triggered more job cuts. Though October 2019 was the last time the index was in positive territory, firms reported being optimistic about the future year.
The PMI index is composed of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading above 50 indicates growth. See IHS Markit
