The seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) in September rose 1.5 points from August to 48.6, though still in contraction. The average reading for the third quarter was the highest since the first quarter of 2020. Employment fell for the 20th straight month and factories continued to have closures due to the pandemic and flooding. Factory orders fell for the 19th month, but at a slower rate than previous months.
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
