The S&P Global Mexico Manufacturing PMI edged up to 47.1 in February 2026 from 46.3 in January, still signaling a marked deterioration in operating conditions. The survey showed a sixth consecutive monthly decline in demand for Mexican goods. New orders fell at a softer rate, while output decreased further, at a pace that was less severe than at the start of the year. New export orders also declined, reflecting weak demand from Europe and the US, though the pace of contraction eased to a three-month low. US tariffs and currency movements were cited as key drivers of higher input costs, with inflation slowing from January but remaining historically elevated. Firms continued to pass costs on to clients, although output price inflation slowed to its weakest rate in a year. Job shedding intensified to a marked pace as firms trimmed headcounts. Meanwhile, business confidence recovered marginally, with firms turning optimistic about the year-ahead outlook after a brief period of pessimism.
The Markit Mexico Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.
source: S&P GlobalTrading Economics (replica official S&P Global): https://tradingeconomics.com/mexico/manufacturing-pmi
