Mexico Manufacturing Improves in April
The seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers' Index (PMI) in April was 48.4, up 2.8 points from March and the highest level in 14 months. While still in contraction, domestic and international orders signaled improving conditions and manufacturer confidence was at a two-month high. Input costs, however, hit a 33-month high due to scarcity of materials and rising shipping fees.
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