México PMI Industrial

The S&P Global Manufacturing PMI rose to 48.4 in October of 2024 from the two-and-a-half-year low of 47.3 in the previous month, but still indicated the fourth consecutive contraction in Mexican factory activity. New orders for goods producers continued to contract, albeit at a slower pace than in September, with surveyees noting unfavorable demand trends, cashflow challenges, projects pending approval, and greater competition from Chinese factories. Consequently, output also continued to fall. The lower demand for capacity drove manufacturers to refrain from renewing work contracts, driving workforce numbers to fall. On the price front, cost pressures fell to their lowest since April despite remaining historically elevated, driving selling prices to increase at a slower pace.