Mexico June IHS Markit Manufacturing PMI Strengthened

(Bloomberg) -- Mexico's June IHS Markit PMI manufacturingactivity increased in June to 52.1 from 51.0 in May, accordingto data released in the IHS Markit Mexico ManufacturingPurchasing Managers' report.

“Mexican manufacturers ended the second quarter of 2018 on apositive footing. Output returned to growth territory, while theupturn in both new orders and employment gained speed,” saidPollyanna De Lima, principal economist at IHS Markit.

Mexico's manufacturing industry improved on several fronts. Theemployment index grew to the highest level in more than two-and-a-half years, production reversed May's contraction and newbusiness orders rose for the eighth month in a row.

Firms took on additional staff during June to meet the increasedworkload and there “were many reports of labor being hired on atemporary basis” to meet staffing needs, according to thereport. The hiring of extra staff helped firms reduce backlogsduring June.

Four in 10 Mexican manufacturers foresee output growth over thenext year.

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