Macro Analysis /
GlobalMexico: IMEF’s PMI surveys–Moderation in June, with manufacturing in contraction
The manufacturing PMI fell to 49.2pts (-1.6pts). Weakness centered in ‘production’ (-4.3pts) and ‘new orders’ (-2.9pts)
Non-manufacturing also declined to 51.8pts (-0.3pts), with all items down except ‘employment’ (+0.3pts)
These results suggest that activity grew more modestly in 2Q22, in line with our view, and maintaining an upward trend
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
1 July 2022
Published byBanorte
