HSBC Mexico Manufacturing Purchasing Managers Index
Trading conditions in the Mexican manufacturing sector improved at the fastest pace in eight months in November, albeit moderately.
London (I-Newswire) December 25, 2013 - The total amount derived from the survey is the Purchasing Managers Index (PMI) for the manufacturing sector. Readings above 50.0 points indicate an improvement over the previous month, while readings below this figure show a deterioration. The PMI consists of five sub-indices that track changes in new orders, production, occupation, delivery times of suppliers and stocks of purchases.
After the settings related to seasonal factors, the Mexican Manufacturing Sector Index HSBC PMI rose to its highest level in eight months in November. The PMI, which rose from 50.2 points in October to 51.9, indicated that business conditions improved moderately in manufacturing, albeit at a below average pace of the series (which stands at 53.6 points).
The volume of new orders received by Mexican producers rose moderately in November the fastest pace in eight months. Companies linked this data largely to increased customer demand of both domestic and foreign markets. Especially significant was the growth of export jobs, which rose to the strongest pace in more than a year.
Companies increased their production in light of the increasing requirements of new orders. Although marginally, rising production more than offset the reduction in October. Meanwhile, stocks of finished products increased at the fastest pace since January, while backlogs fell for the second consecutive month.
The amount of inputs purchased by Mexican manufacturers rose in November as a result of increased production. Also, inventories rose inputs, and thus the rate of stockpiling it was the fastest so far in 2013. In regard to the delivery of suppliers, lengthened for the second consecutive month, this being the most notable recent decline since June.
Employment in Mexico's manufacturing sector rose in November, the month in which more than 11% of the surveyed companies hired additional staff compared to October. However, the rate of job creation was only marginal and only allowed to offset job losses in the previous survey period.
The costs of the inputs to that confronted Mexican manufacturers continued to increase in November. A frequent comment among respondents was the rising prices of raw materials. However, the inflation rate remained below the series average. On the other hand, companies do not change their prices of production compared to October. This side of the sales price trend is recorded after the reductions observed in the previous seven months.
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Published On:December 25, 2013
Print Release:Print Release
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