Weekly Report - 13 August 2020 (WR-20-32)

MEXICO | Falling investment. On 6 August Mexico’s national statistics institute (Inegi) 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 decline in spending on machinery, and a 33.1% fall 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 pandemic.

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