Mexico’s IMEF factory index climbs in February

MEXICO CITY, March 3 (Reuters) – An index of Mexican
manufacturing rose in February as factory managers had a
brighter view of future economic growth, the Mexican Institute
of Financial Executives said on Thursday.

The factory index rose to 52.9 from an upwardly revised
reading of 50.9 in January, the IMEF said. 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.

“The results of the manufacturing index are consistent with
industrial production that already indicates an expansion of
that sector,” the IMEF said in a statement.

Mexico, Latin America’s No. 2 economy behind Brazil, is
seen growing around 4 percent this year.

Mexico sends about 80 percent of its exports to the United
States.
(Reporting by Patrick Rucker; Editing by Diane Craft)