After the rebound shown last October, manufacturing orders fell again in November 2025 on a monthly basis, the National Institute of Statistics and Geography (Inegi) and the Bank of Mexico (Banxico) announced this Tuesday .
The Manufacturing Orders Indicator (IPM) stood at 48.3 units , a monthly decline of 4 points in November of this year.
The IPM, which presents the expectations and perception of business executives on the performance of the manufacturing sector in Mexico, also registered negative figures in its annual measurement, with a decrease of 2.7 points .
Within the IPM, monthly declines were recorded in four of the five components that make it up .
In November 2025, raw material inventories saw the largest decline , falling 8.8 units compared to the previous October. This was followed by production , with a drop of 7.4 points. Orders showed a decrease of 2.9 units month-on-month, and total employment fell 0.8 points during the period.
Timeliness in the delivery of supplies from providers was the only indicator that registered progress, with an increase of 0.3 units in the eleventh month of the year in its monthly measurement.
By the subsector groups that make up the IPM, those showing the greatest year-on-year declines were petroleum and coal derivatives, the chemical industry, and the plastics and rubber industry , with 12.9 points. This was followed by food, beverages, and tobacco , with 1.3 points; computer equipment, electronic accessories, and electrical appliances , with a decrease of 1.1 points; and textiles, clothing, leather and hides, wood, paper, and other industries , with a decrease of 0.3 points.
Despite a decline in the IPM last November, the Mexican manufacturing industry remains one of the main activities attracting Foreign Direct Investment , receiving 37.1% of foreign capital in the third quarter of 2025 , according to the Ministry of Economy .
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