Mexico's manufacturing sector has witnessed a downturn in July 2024, with the S&P Global Mexico Manufacturing PMI slipping to 49.60. This downturn follows the previous figure of 51.10 recorded in June 2024. The latest data, updated on August 1, 2024, marks a significant shift as the index fell below the 50.0 threshold, indicating a contraction in the manufacturing sector.
The decline in the PMI suggests a slowdown in manufacturing output, new orders, and employment. This development could point to potential challenges ahead for Mexico's industrial activity, possibly impacted by weaker domestic demand or global economic uncertainties.
Market analysts and economic stakeholders will be closely monitoring future PMI releases to assess the trajectory of the manufacturing sector as well as the broader Mexican economy.
