The IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) was 38.6 in June, increasing just 0.3 points from May. For the fourth consecutive month, new orders and production fell as companies continued to deal with the fallout from the COVID-19 pandemic. Companies also continued to reduce staff and purchasing. Pessimism amongst those surveyed remained high, though the degree of negativity was waning.
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
