The November seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers’ Index (PMI) fell 2.2 points from October to 47.3, marking the third consecutive month below 50 and the steepest decline in five months. Manufacturers reported a drop in new orders, employment, and production, partially due to tariffs.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global