The latest data from S&P Global reveals a slight deceleration in Mexico's manufacturing activity for June 2024. The Manufacturing Purchasing Managers' Index (PMI) edged down to 51.10, a minor decline from the 51.20 recorded in May 2024. The updated figures were officially released on July 1, 2024.
A PMI reading above 50 signifies expansion in the manufacturing sector, while a reading below 50 indicates contraction. Despite the slight dip, the index remains in expansionary territory for the eighth consecutive month, pointing to ongoing growth albeit at a slower pace.
The marginal decline in the index reflects some moderation in the manufacturing sector's momentum, potentially influenced by global economic factors and domestic challenges. Analysts will be closely monitoring future reports to gauge whether this is indicative of an emerging trend or a temporary fluctuation.
