Mexico manufacturing contraction slows in January
Mexico´s economy officially contracted in 2019 after sluggish industrial output and falling business investment. There was also a slowdown in services. The collection of circumstances created a drop in employment and they contributed to the country’s weakest economic performance since 2009.
Kicking off 2020, January continued to reflect a decline in growth but the IHS Markit Mexico Manufacturing Purchasing Managers’ Index rose to 49.0 from 47.1 last month reaching the highest level since last October.
The number signals a slowdown in the contraction and could point to better months ahead.
A figure above 50 in The IHS Markit Mexico Manufacturing Purchasing Managers’ Index signals expansion in the manufacturing sector, while a number below 50 reflects a contraction in the sector.