Mexico Manufacturing Declines in May
After reaching a 14-month high in April, the seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers' Index (PMI) in May was 47.6, falling 0.8 points from April. Manufacturing production, employment, new business and export orders all saw declines. Business confidence, however, was at a 16-month high, signaling hope that contractions may end soon.
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