The seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) in November rose 0.1 point from October to 49.4, though still in contraction. Supply-chain issues continued to lead to higher input costs, decreased production and near-record long supply delivery times. As a result, manufacturers shed jobs at the second-highest rate in six months and business optimism waned.
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
