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Market Update: Mexico Private Investment Rebounds in March
Gross fixed investment in Mexico advanced 1.7 percent year-on-year in March of 2021, following an upwardly revised 4.6 percent contraction in the previous month but slower than than market expectations of a 2.2 percent jump. It was the first expansion in private investment since January of 2019, lifted by a surge in investment in machinery and equipment (14.8 percent vs -2.3 percent in February). Meanwhile, construction spending retreated at a faster pace (-7.8 percent vs -6.0 percent), weighed down by both residential (-8.9 percent vs -3.2 percent) and non-residential (-6.6 percent vs -9.1 percent). On a seasonally adjusted monthly basis, private investment rose 2.3 percent, easing 2.4 percent gain in the prior month. source: Instituto Nacional de Estadística y Geografía (INEGI) [/s2If]
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