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Mexican Manufacturing PMI Improves Slightly Still Hammered By... (view source)
Revision as of 06:20, 23 December 2020
, 06:20, 23 December 2020Created page with "<br>MEXICO CITY, Dec 1 (Reuters) - The health of Mexico's factories improved slightly in November, though the last time the manufacturing sector was in growth territory was in..."
<br>MEXICO CITY, Dec 1 (Reuters) - The health of Mexico's factories improved slightly in November, though the last time the manufacturing sector was in growth territory was in October 2019, as the economic fallout of the [http://mondediplo.com/spip.php?page=recherche&recherche=coronavirus%20pandemic coronavirus pandemic] weighs on business, [https://www.kynghidongduong.vn/tours/tour-du-lich-trung-khanh-cuu-trai-cau-thanh-do-ha-noi-sai-gon.html kynghidongduong.vn] a survey showed on Tuesday.<br> <br>The IHS Markit Mexico Manufacturing Purchasing Managers' Index edged minimally higher to 43.7 in November from 43.6 in October, again well below the 50-threshold that marks the boundary between contraction and expansion.<br> <br>The index is still gradually clawing its way back after plunging to 35.0 in April, the lowest point in the survey's nine-year history.<br> <br>"Mexico's manufacturing downturn showed no signs of abating, with PMI data for November highlighting sharper contractions in output, exports and total sales. With demand being unresponsive to price-discounting strategies, a recovery in the near-term seems unlikely," said Pollyanna De Lima, [https://www.kynghidongduong.vn/tours/tour-du-lich-trung-khanh-cuu-trai-cau-thanh-do-ha-noi-sai-gon.html tour cửu trại câu giá rẻ] economics associate director at IHS Markit.<br> <br>In any case, Mexico's economy has begun recovering from the depths it hit after coronavirus lockdown measures were put in place.<br> <br>Mexico's economy grew 12.1% between July and September from the previous three-month period, bouncing back strongly, even as it was 8.6% smaller than the same period a year earlier.<br> <br>De Lima said employment, [https://www.kynghidongduong.vn/tours/tour-du-lich-trung-khanh-cuu-trai-cau-thanh-do-ha-noi-sai-gon.html tour cửu trại câu] input buying and stocks all remained in negative territory in November and "pointed to ongoing difficulties among producers, who continue to keep a lid on costs amid future uncertainty."<br> <br>Businesses have excess capacity and foresee lower production volumes over the coming 12 months, De Lima noted.<br> <br>"Anecdotal evidence provided by survey members largely linked the deterioration in the health of the sector to the COVID-19 pandemic and controls imposed to stop the disease from spreading. Many firms associated the downturn in sales with their clients' businesses being closed," she said.<br> <br>The PMI index tracks developments on a range of business indicators including prices, new orders, output, employment, suppliers' delivery times and stocks of raw materials.<br><br>(Reporting by Anthony Esposito Editing by Paul Simao)<br>
