The Manufacturing Orders Indicator (equivalent to the Purchasing Managers' Index, PMI) of Mexico decreased 1.2 percent in December, year-over-year, the third consecutive annual decline, motivated by the decrease in four of the five main components of the indicator, according to SteelOrbis' analysis of seasonally adjusted data from the national statistics agency Inegi.
Of the five components that make up the PMI, four registered a negative trend. The highest level of occupancy decreased 3.8 percent, year-over-year. The level of inventories, according to the survey, decreased 3.6 percent; The expected delivery of inputs from suppliers decreased 2.0 percent and the opinion on new orders decreased 0.2 percent.
In contrast, opinion on production increased 1.5 percent.
The manufacturing industry in Mexico is the largest generator of formal employment, with 6.0 million workers, accounting for 27.8 percent of the total. The industry contributes 21.1 percent of Mexico's GDP ($1.80 trillion).