Macro Analysis /
Global

IMEF’s PMI surveys – Signals of headwinds into the third quarter

  • The manufacturing indicator was unchanged relative to June at 52.2pts, with non-manufacturing down 1.1pts to 52.9pts

  • We highlight the decline in ‘production’ and ‘new orders’ in both indicators, signaling more caution among businesses

  • Results are also consistent with our view of more modest growth into 3Q21, albeit with activity still recovering

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
2 August 2021
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