Mexico’s gross fixed investment grows by 6.2% year-on-year in May
MEXICO – According to the National Institute of Statistics and Geography (Inegi), Mexico’s gross fixed investment grew by 6.2% year-on-year in May, driven by the rise in the machinery and equipment sector.
Based on original figures, Inegi indicated that this result was obtained in the fifth month of the year due to the 15.4% inter-annual increase in machinery and equipment spending, despite a 1.3% fall in construction.
Thus, in the first five months of the year, gross fixed investment grew by 6% year-over-year due to the increase in machinery and equipment (11.2%) and construction (2.1%).
In contrast, according to seasonally adjusted data, gross fixed investment decreased by 1.2% in May compared to the previous month, due to the 2.7% monthly decline in construction and 1% in machinery and equipment.
Mexico’s gross fixed investment grew by 10% year-on-year in 2021, driven by the economic recovery after the worst stage of the coronavirus pandemic.
While it fell by 18.2% year-on-year in 2020 dragged down by the Covid-19 crisis, which today totals nearly 328,000 deaths in Mexico, the fifth highest figure in the world.
In 2019 this investment contracted by 4.9%, while it grew by 0.6% in 2018 and decreased by 1.5% in 2017.