MEXICO CITY, MEXICO – Headhunters in Mexico remain optimistic despite the contraction reflected in the IHS Markit Mexico Manufacturing Purchasing Managers’ Index (PMI) for the third month out of the last five. The PMI index is an indicator of economic health for the manufacturing and service sectors.
The IHS Markit Mexico Manufacturing PMI slipped to 49.8 in March from 52.6 in February. A reading above 50 signals expansion in the sector, while a reading below that threshold points to contraction.
The optimism among the headhunters (as executive recruiters are often called) comes from the same index in February posting its strongest pace of growth in 13 months. Mexico sends about 80 percent of its exports, primarily manufactured goods like cars and other industrial products, to the United States.
An internal survey among Mexico recruiters and consultants at Alder Koten, a leading executive search firm in Mexico, reflects an uptick in new searches from manufacturing clients. “There was more uncertainty when negotiations over the new shape of the North American Free Trade were taking place. Clients held back and they are now confident about the hires they need,” said Silvia Flores, an executive recruiter in the maquiladora and manufacturing practice of Alder Koten in Mexico.