Growth in Mexico’s manufacturing sector accelerated in February to its fastest pace in nine months as new orders and output rose despite an uptick in input costs due to the weak peso, a survey showed on Tuesday.
The Markit Mexico Manufacturing Purchasing Managers’ Index MXPMIM=ECI rose to 53.1 when adjusted for seasonal swings, the highest level since May, 2015, from 52.2 in January.
A reading above 50 signals expansion, while a reading below that points to contraction.
The survey showed output accelerated to its fastest pace in three months, while the rate of new orders hit a 10-month high. However, input prices rose significantly, as Mexico’s peso has hit a series of record lows in recent months.