Mexico’s manufacturing activity index fell to a ten-month low, according to Reuters
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MEXICO CITY (Reuters) – Mexico’s manufacturing sector slowed to its fastest pace in 10 months in January as coronavirus infections, constant supply button necks and high levels of inflation hit industrial activity, a survey showed on Tuesday.
The IHS Markit Manufacturing Purchasing Managers ’Index in Mexico fell to 46.1 in January from 49.4 in December, below the 50 threshold that separates growth and contraction.
The weakest reading of the index since last March is a setback for Mexico, after a significant economic slowdown in the end of 2021 left it struggling with the recession.
The index has fallen below 50 per month since March 2020, reaching 35.0 in April 2020 in the initial phase of the coronavirus pandemic blockade.
“The new wave of COVID-19 pollution has exacerbated the challenges facing Mexican manufacturers. Companies have struggled for some time to see a monthly increase in new demand, and the contraction picked up speed in January,” said Pollyanna De Lima, associate economics director. At IHS Markit.
Sales and production shrank, and labor shortages increased as staff absences increased as the level of infection among workers rose, according to the survey.
Input costs rose at the second fastest pace in five years, he added.
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