Mexico: Manufacturing PMI hits highest reading since December 2024 in May; non-manufacturing PMI rises
Latest reading: The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 47.4 in May from April’s 45.5. May’s result marked the best performance since December 2024. However, the index remained below the 50.0 no-change threshold—where it has been for over a year—signaling a continued deterioration in manufacturing sector operating conditions from the previous month.
Meanwhile, the non-Manufacturing PMI stood at 49.4 in May, up from April’s 49.1 but also highlighting worsening operating conditions.
Taken together, the PMI data so far in Q2 suggests that the economy remains in a rut, weighed on by current and threatened U.S. tariffs plus a tighter fiscal stance.