Mexico: Manufacturing PMI eases in April; non-manufacturing PMI ticks up
Latest reading: The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) came in at 45.5 in April, down from March’s 46.9. April’s result marked the worst reading since June 2020. As a result, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month. The imposition of U.S. tariffs on Mexico was likely behind the weakening in the PMI.
In contrast, the non-Manufacturing PMI clocked in at 49.0 in April, up from March’s 48.5, on softer downturns in new orders and employment.