Mexico: Manufacturing and non-manufacturing PMI readings decline in January
Latest reading: The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) edged down from 46.5 in December to 46.4 in January. As such, the index remained below the 50.0 no-change threshold, marking its twenty-second consecutive month in contractionary territory and signaling a further deterioration in manufacturing-sector operating conditions. The headline print reflected continued weakness across key components, with employment falling more sharply, while new orders and output stayed below the expansion threshold.
Meanwhile, the non-manufacturing PMI declined from 49.5 in December to 49.1 in January, deepening its position in contractionary territory. The downturn was broad-based, with new orders and output both decreasing and remaining below 50. Although the employment indicator improved marginally, it continued to signal contraction, underscoring the loss of momentum in the services sector at the start of the year.