Mexico June IHS Markit Manufacturing PMI Strengthened

(Bloomberg) -- Mexico's June IHS Markit PMI manufacturing activity increased in June to 52.1 from 51.0 in May, according to data released in the IHS Markit Mexico Manufacturing Purchasing Managers’ report.

“Mexican manufacturers ended the second quarter of 2018 on a positive footing. Output returned to growth territory, while the upturn in both new orders and employment gained speed,” said Pollyanna De Lima, principal economist at IHS Markit.

Mexico’s manufacturing industry improved on several fronts. The employment index grew to the highest level in more than two-and- a-half years, production reversed May's contraction and new business orders rose for the eighth month in a row.

Firms took on additional staff during June to meet the increased workload and there “were many reports of labor being hired on a temporary basis” to meet staffing needs, according to the report. The hiring of extra staff helped firms reduce backlogs during June.

Four in 10 Mexican manufacturers foresee output growth over the next year.

©2018 Bloomberg L.P.

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