FX.co ★ Mexico Manufacturing PMI Returns to Contraction

The S&P Global Mexico Manufacturing PMI slipped to 49.5 in October 2026 from 50.3 in September, moving below the neutral 50.0 threshold and indicating a slight deterioration in manufacturing conditions. Factory output contracted at its fastest pace in six months, deepening the downturn that began in July 2024.

New orders rose for the sixth consecutive month, although growth remained marginal and was the weakest in this sequence. Employment fell at the sharpest rate since May, and purchasing activity declined for the third month in a row. Pre-production inventories decreased for a thirteenth successive month, while stocks of finished goods inched higher.

Input cost inflation accelerated to its highest rate in three months, but the pace of increase in selling prices eased to its slowest since April. Despite the overall softening in conditions, business confidence strengthened, supported by expectations of a recovery in demand and increased investment. New export orders also returned to growth.