Mexican manufacturing tumbles as price hikes bite

Mexico's PMI has lingered below the 50-point threshold that separates growth from contraction since March 2020

Mexico's manufacturing sector declined in July, with demand for the country's goods hit by inflation after a long pandemic-driven downturn, a survey showed on Friday, despite hopes for a recovery.

Qazet.az reports that the seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers' Index (PMI) fell to 48.5 in July from 52.2 in June.

Aside from a brief hiatus in May and June, Mexico's PMI has lingered below the 50-point threshold that separates growth from contraction since March 2020. It hit a record low of 35.0 in April 2020 during the initial enactment of the country's COVID-19 containment measures.