Macro Analysis /
GlobalMexico: IMEF’s PMI surveys – Lower manufacturing, with services resilient
The manufacturing index declined to 49.4pts (-1.8pts), dragged by ‘inventories’ (-6.1pts) and ‘new orders’ (-4.1pts)
Non-manufacturing fell to 51.9pts (-0.1pts), with a drop in ‘production’ (-0.9pts) but with ‘employment’ better (0.2pts)
Headwinds in 3Q22 are starting to become more evident, however we see signs of resilience in domestic demand
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
1 September 2022
Published byBanorte
