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IHS Markit Mexico Manufacturing PMI rose to 50.1 in April 2019 from 49.8

The IHS Markit Mexico Manufacturing PMI rose to 50.1 in April 2019 from 49.8 in the previous month. The latest reading pointed to an expansion in factory activity, as new orders went up marginally driven by both existing and new clients. Also, stock of purchases rose for the first time since September and output dropped at a weaker pace. Meanwhile, new export orders declined for the first time since February last year and employment fell at the fastest pace in almost five years amid non-renewal of temporary contracts, retirements and downsizing efforts. On the price front, input and output prices advanced, still the rates of inflation were below the long-run averages. Finally, confidence improved amid optimism linked with product diversification, opportunities to tender and efforts to enter new foreign markets. Manufacturing PMI in Mexico is reported by Markit Economics.

Manufacturing PMI in Mexico is expected to be 50.80 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Mexico to stand at 52.00 in 12 months time. In the long-term, the Mexico Manufacturing PMI is projected to trend around 49.50 in 2020, according to our econometric models.

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