FILE PHOTO: A worker holds stainless steel wire produced at TIM stainless steel wire factory in Huamantla, in the Mexican state of Tlaxcala October 11, 2013.
REUTERS/Tomas BravoMexico’s manufacturing sector shrank for the 15th straight month in May due to subdued sales, raw material shortages and the COVID-19 crisis, though the rate of decline was the second-slowest since the pandemic hit Mexico, a survey showed on Tuesday.
“PMI data for May suggested that Mexican manufacturers continued to struggle, with new orders again undermined by the COVID-19 pandemic,” said Pollyanna De Lima, Economics Associate Director at IHS Markit.
Mexico’s seasonally adjusted unemployment rate rose to 4.7% in April from 4.4% in March, the national statistics agency said on Thursday.
“Optimism was, however, pinned on hopes that the COVID-19 pandemic will be brought under control,” said De Lima.
Tomas Bravo, ”, Pollyanna De, De Lima
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Huamantla, Mexican, Tlaxcala, Mexico, Pollyanna De Lima, of Mexico