Gross fixed investment up 18.8% year-on-year in the first half

Mexico’s gross fixed capital investment rose 18.8% year-on-year in the first half of 2023, driven in particular by the engineering sector, the National Institute of Statistics and Geography said on Monday (Inegi).

This result from January to June was driven by a 17.9% year-on-year growth in construction and 19.9% ​​in technique and equipment, detailed the autonomous institute based on the original figures.

Looking at June alone, gross fixed investment rose 28.8% year on year, driven by growth in construction (37.1%) and machinery and equipment (20.5%).

On the other hand, according to seasonally adjusted data, gross investment in fixed assets up 3.1% from the previous month.

It was a combination of monthly growth of 4.2% in construction and 2.1% in machinery and equipment.

Numbers reflect behavior Economy of Mexicowhich grew 3.6% year-on-year and 0.8% quarter-on-quarter in the second quarter of 2023, according to final data released by Inegi last week.

Gross fixed capital investment in Mexico grew by 6% annually in 2022 due to increased production of machinery and equipment.

Although it is up 10% year-on-year in 2021 after going through the worst phase of economic growth. coronavirus pandemicwhich caused an 18.2% reduction in investment in 2020.

Gross fixed investment allows you to know the behavior investments in the short terminforms Inegi.

It includes goods used in the production process for more than one year and for which the right of ownership applies.

Mexico’s economy returns to pre-pandemic levels after rising 3.1% in 2022 and 4.8% in 2021 after contracting 8.2% in 2020, the worst downturn since the Great Depression of 1932.


Source: Aristegui Noticias