Mexico Manufacturing Down in April
The IHS Markit Mexico Manufacturing Purchasing Managers' Index (PMI) was 35.0 in April, down 12.9 points from March, the sharpest decline in the survey’s nine-year history. For the second consecutive month, new orders fell at the sharpest rate since data collections started in April 2011, with most companies citing the COVID-19 pandemic as the cause. Production at factories also dropped due to drastically reduced orders and closures.
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