The manufacturing index rose 0.2 points in April to 52.3 units, the Mexican government estimates a 3.5% economic expansion this year.
The Mexican Institute of Finance Executives (IMEF) reported that the Mexican economy saw a marginal improvement in its manufacturing sector linked to the U.S. in April and trading activity decreased slightly, in line with moderated pace of the local economy.
According to the IMEF’s manufacturing index, the economy expanded 0.2 points to 52.3 units in April, according to seasonally adjusted figures.
This indicator has been in the past 6 months above 52 points, suggesting that its tendency is for expansion, said the IMEF in a statement.
The Mexican manufacturing sector is highly dependent on US industrial cycles, which is the destination of a majority of its production.
Meanwhile, the IMEF indicator for the service sector in April fell 0.6 points to 53.2 units, indicated by the seasonally adjusted figures from IMEF.
The Mexican government estimates a 3.5% economic expansion this year, a slight change from the 3.9% recorded in 2011.
Source: El Financiero