Mexico Gross Fixed Investment Up 5.7 Percent In September

Please Rate Vote 1 Vote 2 Vote 3 Vote 4 Vote 5

 

Gross fixed investment in Mexico rose 5.7 percent in September compared to the same month of 2013, the National Institute of Statistics and Geography, or INEGI, said.

That increase was due to an 8.5 percent rise in spending on imported and domestically produced machinery and equipment and a 4.2 percent hike in construction spending, INEGI said in a statement Wednesday.

Gross fixed investment fell 0.43 percent on a seasonally adjusted basis from August as a result of a 1.91 percent decrease in spending on machinery and equipment and a 0.32 percent rise in construction spending, the institute said.

For the January to September period, gross fixed investment climbed 1.1 percent compared to the first nine months of 2013, the result of a 0.5 percent decline in construction spending and a 3.7 percent increase in spending on machinery and construction.

The Mexican government is forecasting the nation's gross domestic product to expand by between 2.1 percent and 2.6 percent this year, up from 1.1 percent growth in 2013.

[readon1 url="http://latino.foxnews.com/latino/news/2014/12/11/mexico-gross-fixed-investment-up-57-pct-in-september/"]Source:latino.foxnews.com[/readon1]