Mexico Manufacturing PMI Holds Steady in July

The S&P Global Mexico Manufacturing PMI held at 51.3 in July 2026, signalling a second consecutive monthly improvement in operating conditions. New orders rose at the fastest pace since November 2023, driven by stronger domestic demand, while export orders slipped back into contraction. Factory output remained in decline, extending a downturn that began two years ago, amid weakness in the automotive and construction sectors and plant maintenance. Finished goods inventories fell, while pre-production stocks declined due to supplier delivery delays. Vendor performance deteriorated further amid shipping bottlenecks, supplier shortages and the Middle East conflict, prompting firms to raise input purchases at the fastest pace in nearly two-and-a-half years. Input cost inflation remained elevated, driven by higher fuel, material and transport costs and tariffs. Business confidence stayed subdued amid concerns over cash flow, insecurity, international competition and geopolitical risks.





