Mexico IMEF factory index climbs in November

MEXICO CITY, Dec 6 (BestGrowthStock) – An index of Mexican
manufacturing climbed for the second straight month in November
in a hopeful sign for the country’s recovery from recession.

The factory index, compiled by the Mexican Institute of
Financial Executives, or IMEF, continues to point to future
expansion in manufacturing, climbing to 54.0 in November from a
revised 53.2 in October, the group said on Monday.

A reading above 50 indicates growth in coming months in the
export-oriented manufacturing sector, which accounts for about
one-fifth of Mexico’s economy.

Mexico, Latin America’s No. 2 economy behind Brazil, is
limping back from a 6.1 percent economic contraction in 2009.
The economy is seen posting growth of around 5 percent this
year.

Mexico sends about 80 percent of its exports to the United
States, where the economy is making a lackluster recovery.
(Reporting by Jason Lange; Editing by Padraic Cassidy)

Mexico IMEF factory index climbs in November