The gross fixed investment of Mexico accumulates a fall of 4.9% in the first three months of 2021 compared to the same period of the previous year due to the fall in construction, according to data released this Monday by the National Institute of Statistics and Geography (Inegi) .
The Inegi announced this Monday the deterioration of the indicator is due to the drop of 8.6% in the construction sector, only partially offset by the rise of 0.8% in machinery and equipment.
According to seasonally adjusted data, gross fixed investment increased 2.3% last March compared to the previous month.
"Driven by machinery and equipment, gross fixed investment advanced 2.3% month over month in March 2021. Its third consecutive monthly increase; in annual terms, it was 1.7% year over year versus March 2020, the first month affected by the pandemic", the head of Inegi, Julio, indicated on Twitter. A. Santaella.
Gross fixed investment fell 18.2% in 2020 dragged down by the COVID-19 crisis. This indicator allows having "extensive knowledge" about the behavior of investment in the short term, according to Inegi.
It is made up of the goods used in the production process for more than one year and which are subject to property rights.
The Gross Domestic Product (GDP) of Mexico contracted 0.1% in 2019 due to the fall in industrial activity, which represents a substantial decrease compared to the growth of 2.1% the previous year.
With information from EFE
