FX.co ★ Mexico’s Manufacturing Slump Deepens as April S&P Global PMI Slips to 47.7

Mexico’s manufacturing sector moved further into contraction in April, as the S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell to 47.70 from 48.90 in March 2026.

The latest reading, released on 4 May 2026, underscores mounting pressure on factory activity, with the sub-50 level signaling a continued decline in operating conditions. April’s figure marks a deterioration from March’s already weak performance, suggesting that demand, output or both remain under strain.

With the index now at 47.70, the data point to a manufacturing landscape still struggling to regain momentum, raising concerns about the sector’s contribution to Mexico’s broader economic outlook in the near term.