March 6, 2024 (press release) –
Mexico's Manufacturing Orders Indicator (equivalent to the Purchasing Managers' Index, or PMI) saw a 3.4% year-over-year increase in February, according to SteelOrbis after analyzing data from Inegi. This is the first annual increase after four consecutive declines.
The country's expected production sees an annual increase of 9.9%. However, occupancy level declined 0.6%, marking its eighth consecutive annual decrease, and the inventory level fell by 5.5%, marking its third successive annual decline.
The manufacturing sector in Mexico is the largest formal employer and accounts for 20.9% of the country's GDP.
Industry intelligence editor's note: Information originally published in SteelOrbis. To view the full article, please visithttps://www.steelorbis.com/steel-news/latest-news/mexicos-pmi-up-34-percent-in-february-1330259.htm
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