IHS Markit Mexico Manufacturing PMI Rises to 49.3 in October, from 48.6

The IHS Markit Mexico Manufacturing PMI rose to 49.3 in October 2021, from 48.6 in the previous month, reflecting a softer contraction in the country’s manufacturing sector. Output decreased for the 20th month in a row, amid reports of a lack of raw material availability, business closures and subdued sales, while new orders continued to fall due to shutdowns, weak demand and shortages of goods for sale. At the same time, vendor performance worsened at the third-sharpest pace since the survey started in April 2011, while stocks of purchases declined for a 24th month. Employment decreased again, although the pace of job shedding was moderate and softened from September. On the price front, inputs costs rose the most in just under three-and-a-half years, while output charges posted the first increase in over two years. Finally, business sentiment hit a 42-month high in October, reflecting expectations that the pandemic will recede and raw material availability will improve. source: Markit Economics