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Factory Activity Rises to 16-Month High in Mexico

Financial Tribune
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October 4, 2017

Mexican workers manufacture car mats at a plant in in Ciudad Juarez. The auto industry has boomed under the North American Free Trade Agreement, but created a class of workers who are barely getting by. Canadian and U.S. envoys to NAFTA renegotation talks are pressing Mexico to raise working standards there. (Ivan Pierre Aguirre/AP)

Update: World Bank: Record $30 Billion Leaving the US for Mexico (The Daily Caller)

Activity in Mexico’s manufacturing sector increased in September to a 16-month high on the back of stronger output and new orders, a survey showed this week.

The Markit Mexico Manufacturing Purchasing Managers’ Index rose to 52.8 in September from 52.2 in August, when adjusted for seasonal swings. A reading above 50 signals expansion in the sector, while a reading below that points to contraction, Reuters reported.

“The latest set of PMI data show that economic conditions in Mexico remained on an upward trajectory, with factory output expanding in tandem with strong inflows of new work,” said Pollyanna De Lima, principal economist at IHS Markit and author of the report.

The report said that manufacturing conditions in Mexico continued to improve at the end of the third quarter. A marked and accelerated expansion in factory orders underpinned a robust upturn in output, as jobs were created over the month and firms purchased greater quantities of inputs.

Rising manufacturing activity likely helped boost gross domestic product growth in the third quarter.

“Buoyant demand for Mexican goods was evident domestically and externally, while businesses spent more on staff and quantities of purchases. These are additional signs that GDP growth will probably accelerate from the modest 0.6% rise noted in Q2,” said De Lima.

The September figure was the highest since May 2016, as output and new orders picked up. The PMI reading over the third quarter as a whole was the highest since the second quarter of 2016.

Read the rest at Financial Tribune

Related: Mexico Appears Willing to Improve Conditions for Workers (The Star)

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