Manufacturing orders fall in March after 4 consecutive advances

Mexico City. Manufacturing activity in Mexico fell in March, after four consecutive monthly advances, revealed the National Institute of Statistics and Geography (Inegi).

At the end of March 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 52.9 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 first contraction after four months of growth. However, compared to March 2023, it registered a growth of 0.4 points, the second in a row.

Within the WPI, there were monthly falls in the expected production items (6.2 points); the expected delivery of inputs by suppliers (0.4 units); and those referring to employed personnel, which did not present monthly variation. While the expected volume of orders and inventory of inputs advanced 3.3 and 1.6 points, respectively in March compared to February.

While in its annual measurement, the expected volume of orders advanced 4.8 points, its second consecutive reading on the rise; the expected production volume fell 2.9 units; the expected levels of total employed personnel fell 0.7 units; The expected delivery of inputs by suppliers advanced 0.6 points and input inventories fell 2.4 points.

With original figures, the MPI stood at 52.5 points with data without seasonal adjustment, which meant an annual drop of 1.7 points.

In March 2024 and with original figures, the aggregate of food, beverages and tobacco showed an annual decrease of 1.8 points; petroleum and coal derivatives, chemical, plastic and rubber industries, 0.8 points; non-metallic and basic metallic minerals, 2.9 points; computer equipment, electronic accessories and electrical appliances, 5.4 points; transportation equipment, 1.2 points; metal products, machinery, equipment and furniture, 3.2 points, and textiles, clothing, leather and skin, wood, paper and others decreased 0.8 points.