LatinNews Daily - 07 August 2020

* Mexico’s national statistics institute (Inegi) has released figures for May on gross fixed capital formation (GFCF), according to which investment in fixed capital goods such as machinery and equipment fell by 38.4% year-on-year, and by 4.5% compared with April. A breakdown of the figures reveals a 43.8% year-on-year drop in spending on machinery, and a 33.1% drop in construction spending. Inegi president Julio Santaella noted that this decline brought GFCF to its lowest level since 1997, which he attributed to the impact of the coronavirus (Covid-19) pandemic.

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