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.
