LatinNews Daily - 08 September 2020

* Mexico’s national statistics institute (Inegi) has released June figures on gross fixed capital formation (GFCF), which reveal that state investment in fixed capital goods such as machinery and equipment grew by 20.1% compared with May. The breakdown shows investment in machinery & equipment grew by 25.8% and in construction by 13.7%. In annual terms, however, the GFCF was down 25.2% in June compared with the same month in 2019. Following the announcement, Inegi’s president, Julio Santaella, tweeted that the “partial recovery” was a result of the country’s return to a “new normality,” in reference to the resumption of some economic activities on 1 June which had been shut to stop the spread of the coronavirus (Covid-19). Santaella also noted that following June’s positive results, investment in machinery & equipment is now only 25.3% below June 2019 levels, following a steep 38.9% fall over the period February to May 2020. Investment in construction, he added, which fell 32.9% in April, is now 26.6% below its June 2019 level.

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