FX.co ★ Mexico’s Manufacturing Slump Eases as S&P Global PMI Climbs Toward Growth in May

Mexico’s manufacturing sector showed signs of stabilizing in May, with the S&P Global Manufacturing PMI rising to 49.60 from 47.70 in April 2026, according to data updated on 1 June 2026. While the index remains just below the 50.0 threshold that separates contraction from expansion, the latest reading points to a notable easing in the downturn.

The improvement from April suggests that the pace of decline in factory activity has slowed, signaling a tentative recovery in operating conditions. A PMI closer to 50 typically reflects softer falls in output, new orders, or employment, and can precede a return to growth if the trend continues.

Investors and policymakers will be watching upcoming data to see whether May’s gain marks the beginning of a sustained upturn in Mexico’s manufacturing cycle or merely a temporary pause in weakness. With the index now within touching distance of the expansionary zone, the next few months’ readings will be critical for gauging the sector’s momentum heading into the second half of 2026.