The Mexican institute of statistics and geography, INEGI, reported that the index of the manufacturing industry purchase orders (IPM) for October 2023 declined by 2.81 points from September to 48.5 points.
The index has thus returned to the negative area (lower than 50 points) after nine consecutive months in the positive area, reflecting the expectations and perceptions of entrepreneurs in relation to the Mexican manufacturing industry.
The decline reflects negative data on purchase orders received, expected production, employed workers, and regularity in the delivery of raw materials by the suppliers, with the level of raw materials in stock on the positive side.
On yearly basis, all items have shown decreases from October 2022.