Mexico: Manufacturing and non-manufacturing PMI readings rise in February
Latest reading: The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) increased from 46.7 in January to 47.2 in February. Despite this improvement, the index remained below the 50.0 no-change threshold, marking its twenty-third consecutive month in contractionary territory and indicating that manufacturing-sector operating conditions continue to deteriorate, albeit at a slower pace. The headline print reflected modest improvements across key components: new orders, employment and output readings rose slightly but remained below the expansion threshold.
Meanwhile, the non-manufacturing PMI increased from 49.4 in January to 50.0 in February, reaching the threshold of expansion after several months in contractionary territory. The improvement was supported by notable gains in new orders and output, both of which moved back into expansionary territory. The employment reading rose marginally, though it remained slightly below the 50 mark, indicating a continued—albeit softer—contraction in hiring.