EconomyInvestment in Mexico fell 1.4% at a monthly rate...

Investment in Mexico fell 1.4% at a monthly rate during July, Inegi

Investment in Mexico plummeted 1.4% at a monthly rate during July, this is the largest monthly drop since February 2022, reported the Inegi.

Investment levels in Mexico still have a lag of 13.56% compared to their historical maximum, reached in July 2018.

The Gross Fixed Investment Indicator maintains an annual growth of 3.48%, which is also the lowest rate since February of this year. And the reduction was mainly linked to a drop of 3.5% at a monthly rate in the expenses made in non-residential construction, according to data from the National Institute of Statistics and Geography.

The expenses made in construction fell 1.7% at a monthly rate and in total machinery and equipment —of national and imported origin—, 0.4 percent.

However, in July a growth of 2.98%, at an annual rate, was observed in investment in national transportation equipment after it fell 4.23% the previous month.

“With respect to the pre-pandemic levels of February 2020, gross fixed investment registered a lag of 0.34%, which once again placed it below the pre-covid-19 level,” indicated an analysis by Banco Base.

Mexico registers 57.5 million people with employment in September

The informality rate was 55.6% and unemployment during the patriotic month was 3.3%, according to Inegi figures

LAST MINUTE: Economic activity in Mexico reaches its best level since September 2019

The IGAE grew for the second consecutive month, driven by an increase in primary and tertiary activities, although with a stagnation in those of the secondary sector.

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Industrial activity stagnates after five months with growth

The only sector that showed growth in August was mining, while manufacturing and construction fell in their monthly comparison.

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The low credibility of the authorities and their actions against crime led many to give up and present their complaint to the authority; very few cases end in favor of the aggrieved.