Fixed investment in Mexico increased 3.0 percent, year over year, in March. The double-digit growth trend of the last 15 months is broken. Thus, 37 months have also accumulated with consecutive annual increases, according to SteelOrbis' analysis of data from the national statistics office Inegi.
The lower dynamism of investment was due to the slowdown in private investment, which registered an upward trend of 19.0 percent on average in the last 12 months; in March it grew only 2.3 percent. In addition, investment in machinery and equipment (one of the main items of the indicator) decreased 3.4 percent. With this drop, it broke the consecutive growth trend of the last 37 months (since March 2021).
The other major item that makes up investment, construction, increased 9.4 percent, year over year, in March. Although this has accumulated 18 months of consecutive growth, the double-digit growth trend of the last 10 months was also broken.
Regarding public investment, it grew 9.5 percent. This increase is lower than the monthly average of the last 16 months.
In the accumulated January-March, fixed investment increased 9.8 percent. It is the second largest increase in the last 16 years.