The S&P Global Mexico Manufacturing PMI rose to 53.2 in July 2023 from 50.9 in June, marking the sixth period of expansion in the factory activity and the highest reading since May 2016, as all five sub-components contributed positively. New orders posted the strongest increase since February 2019, thanks to easing price pressures, agreeable weather conditions, and buoyant client demand. The upturn in sales was accompanied by recovered exports, with international orders advancing for the first time in five months. Meanwhile, output grew the most since early 2019, prompting firms to scale up buying and hire extra staff. On input costs, inflation waned and stayed broadly in line with its long-run average. The future outlook was boosted by plans to price competitively, marketing initiatives, favorable tourism, and forecasts of strong sales trends. Nearshoring potential as businesses shift away from Asia into Mexico to fulfill demand from the US also added optimism. source: Markit Economics
Manufacturing PMI in Mexico averaged 50.57 points from 2012 until 2023, reaching an all time high of 57.10 points in December of 2012 and a record low of 35.00 points in April of 2020. This page provides the latest reported value for - Mexico Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mexico Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.
Manufacturing PMI in Mexico is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico Manufacturing PMI is projected to trend around 55.00 points in 2024, according to our econometric models.