MEXICO CITY, April 2 (Reuters)- Activity in Mexico's manufacturing sector rose in March, recovering from a dip in the previous month, as new orders jumped and fueled new hires, a survey showed on Monday.The IHS Markit Mexico Manufacturing Purchasing Managers' Index rose to 52.4 in March, bouncing back from a four-month low of 51.6 in February.
A reading above 50 signals expansion in the sector, while a reading below that points to contraction.New orders hit their highest reading in four months, the survey showed.
"Companies mentioned a strengthening of demand, both nationally and internationally," the survey said.Mexico sends about 80 percent of its exports, which are mostly manufactured goods like cars and TVs, to the United States.The PMI index is composed of five sub-indexes tracking changes in new orders, output, employment, suppliers' delivery times and stocks of raw materials.(Reporting by Michael O'Boyle; Editing by Chizu Nomiyama)
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