Mexico City. Manufacturing activity in Mexico fell in April, for the second consecutive month, revealed the National Institute of Statistics and Geography (Inegi).
At the end of April 2024, the Manufacturing Orders Indicator (MPI), which allows us to know the expectations and perception of business managers about the behavior of the manufacturing sector, stood at 51.7 points, thus remaining above the threshold of 50 points (which means entering an expansion zone), for the third consecutive month.
Thus, manufacturing orders presented a monthly drop of 1.0 points, the second contraction after four previous months of increases. Meanwhile, compared to April 2023, it registered a drop of 1.0 points, the first after two positive readings.
Within the WPI, the most pronounced monthly falls occurred in the areas of the expected volume of orders and inventory of inputs, with 4.1 and 2.0 points, while in their annual reading they reported a fall of 0.8 points and 4.4 units in April.
The expected levels of total employed personnel fell 0.4 units; The expected delivery of inputs by suppliers decreased 0.3 points in April compared to March. In its annual measurement, it decreased 1.3 points and advanced 2.3 units, respectively.
The expected volume of orders advanced 0.4 points monthly, a slight rebound after its previous monthly drop of 6.1 points, and a drop of 1.6 units annually.
With original figures, the WPI showed an annual increase of 1.2 points and stood at a level of 52.4 points. Regarding their components, three of the five aggregates registered annual increases. The remaining two fell.
In the fourth month of 2024 and with data without seasonal adjustment, by groups of subsectors of economic activity, six of the seven items that make up the MPI had annual advances, while one fell.
Manufacturing falls in March
The Timely Monthly Indicator of Manufacturing Activity (Imoam) estimated that manufacturing activity in Mexico contracted its annual growth in March.
According to the National Institute of Statistics and Geography, Imoam foresees an annual drop in the manufacturing sector of 3.9 percent in March.
With a 95 percent confidence interval, the lower limit estimated an annual drop of 6.9 percent and the upper limit a decrease of 0.7 percent.
Consistent with the information from the timely data on Mexico’s gross domestic product (GDP), where Inegi estimated that the industry reported a quarterly decrease of 0.4 percent in the January-March 2024 period; although in their annual comparison, secondary schools advanced 1.5 percent.
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– 2024-05-04 15:16:48
