Mexico: Manufacturing and non-manufacturing PMIs ease in December
The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) fell to 49.8 in December from November’s 50.9. December’s result marked the worst performance since May. As such, the index dropped below the 50.0 no-change threshold, signaling a deterioration in manufacturing sector operating conditions from the previous month. The headline print reflected weaker readings for employment, new orders and output.
Meanwhile, the non-Manufacturing PMI clocked in at 52.1 in December, down from November’s 52.7.
Taken together, the PMI data for Q4 as a whole still points to a strong GDP outturn in the period, as the non-manufacturing PMI averaged well in expansionary territory in Q4.