Mexico's Manufacturing Orders Indicator (equivalent to the Purchasing Managers' Index, PMI) increased 0.7 percent in March, year-over-year, the second annual increase after four consecutive declines, according to SteelOrbis analysis of data from the national statistics agency Inegi.
Of the five components that make up the PMI, three registered a decline and two registered a positive behavior.
The most dynamic increase was the expected volume of orders with an annual increase of 8.9 percent. Expected delivery of inputs from suppliers increased 1.2 percent, year over year, in March.
The expected production volume decreased 5.3 percent, the second largest decrease was in input inventory with 4.3 percent. The level of employed personnel decreased 1.4 percent.
The manufacturing industry in Mexico is the largest generator of formal employment with more than 6.0 million workers, a figure that represents 27.1 percent of total formal employment in Mexico. The industry contributes 20.9 percent of Mexico's GDP.