Mexico’s factories still reeling from coronavirus

Mexico’s factories were still hurting in August from the coronavirus pandemic, with production falling and firms cutting workers, though the pace of deterioration in business conditions eased for a fourth straight month, a survey showed on Tuesday.

The IHS Markit Mexico Manufacturing Purchasing Managers’ Index MXPMIM=ECI stood at 41.3 in August compared with 40.4 in July, still far below the 50-threshold that marks the boundary between contraction and expansion.

The index has been gradually recovering after plummeting to 35.0 in April, the lowest point in the survey’s nine . . .

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