Mexico Manufacturing Nearly Unchanged in November
The IHS Markit Mexico Manufacturing Purchasing Managers' Index (PMI) in November was 43.7, up only 0.1 from October. Though conditions continue to improve, November PMI data pointed to steep contractions in sales, output and employment continuing from the COVID-19 pandemic. October 2019 was the last time the index was in positive territory.
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