The seasonally adjusted IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) in January dropped sharply by 3.3. points to 46.1, the lowest reading since March 2021. New COVID-19 outbreaks and continuing supply chain issues led to a one-year low in business confidence, along with decreases in output and sales, as well as increases in staff shortages and costs.
The PMI index is composed of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading above 50 indicates growth. See IHS Markit