The seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) in October rose 0.7 points from September to 49.3, though still in contraction. Supply-chain issues led to higher input costs, decreased production and near-record long supply delivery times, but business sentiment reached a 42-month high with manufacturers expecting that the pandemic will end and material availability will improve.
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
