LatinNews Daily - 07 July 2020

* Mexico’s national statistics agency (Inegi) has released monthly figures for April of gross fixed capital formation (GFCF), that is to say investment, in machinery and equipment, which indicate a 37.1% fall compared with the same month last year. A breakdown of the figures reveal a 36.3% fall in investment in construction equipment and a 38% drop in investment in all machinery and equipment. The steepest drop recorded was in purchases of transport equipment, which fell 64.1% compared with April 2019. In a series of tweets, Inegi chief Julio Santaella noted that the month-on-month contraction of 28.9% is the country’s largest since records began in 1993, and that when added to the steady decline since 2018, GFCF has fallen to a level not seen since the beginning of 1998.

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