Mexico's Manufacturing Orders Indicator (equivalent to the Purchasing Managers' Index, PMI) decreased 1.8 percent in April, year-over-year. In the last 12 months, as of May, the indicator registered seven decreases and five increases, according to SteelOrbis analysis of data from the national statistics agency Inegi.
Of the five components that make up the PMI, four registered a decline. The most pronounced reduction was in expected production volume at 5.8 percent, year-over-year. Expected employment decreased 0.9 percent.
Expected order volume decreased 0.5 percent and input inventory decreased 0.02 percent.
In contrast, the delivery of inputs by suppliers increased 0.5 percent. It is the fifth consecutive annual increase.
The manufacturing industry in Mexico is the largest generator of formal employment with more than 6.1 million workers, a figure that represents 27.1 percent of total formal employment in Mexico. The industry contributes 19.5 percent of Mexico's total GDP.