Economy & Business - January 2024

MEXICO | GFCF picks up. On 10 January, Mexico’s national statistics institute (Inegi) released new figures showing that in October 2023 gross fixed capital formation (GFCF) increased by 24.7% year-on-year and 1.9% in monthly terms on seasonally adjusted figures. The monthly increase was driven by a 4% increase in investment in construction although investment in machinery and equipment was down 0.6%. The yearly increase was made up of an increase of 31.8% in investment in the construction sector and a rise of 17.8% in investment in machinery and equipment. This compares to a monthly decrease of 1.5% and yearly rise of 23.5% in GFCF in September 2023.