Mexico: Manufacturing and service sectors remain subdued in June
Latest reading: The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 47.8 in June from May’s 47.5. June’s result marked the best performance since November 2024. However, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month. The headline print reflected a better reading for new orders.
Meanwhile, the non-Manufacturing PMI came in at 48.7 in June, down from May’s 49.8.
Taken together, the PMI data for Q2 as a whole suggests a weak economic outturn, which is in line with our panelists’ forecasts for a sequential GDP contraction in the quarter.