Mexico Manufacturing Up Slightly in May
The IHS Markit Mexico Manufacturing Purchasing Managers' Index (PMI) was 38.3 in May, up 3.3 points from April’s record low. For the third consecutive month, new orders fell sharply with most companies citing the COVID-19 pandemic closures as the cause. Production at factories continued with another steep drop, with many of those surveyed noting complete production suspensions due to the lockdowns.
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