UPDATE 1-Mexico gross fixed investment up 3.3 pct in Dec

Wed Mar 7, 2007 3:54pm EST
 
[-] Text [+]

(Adds details on sectors, adds context)

MEXICO CITY, March 7 (Reuters) - Mexican gross fixed investment, a measure of spending on machinery, equipment and construction, rose a weak 3.3 percent in December from the year-ago period, the government said on Wednesday.

The number was well below the 5.96 percent median increase forecast by analysts in a Reuters poll ECONMX.

On a seasonally-adjusted basis, gross fixed investment rose 1.37 percent in December versus November.

Investment in machinery and equipment increased 2.5 percent year-on-year, with investment in imported products up 4.6 percent and spending on domestically made products down 1.7 percent.

Construction investment rose 4.3 percent.

Mexico's economy grew at a healthy 4.8 percent in 2006, helped by robust industry, services, exports and consumer demand, but growth is expected to lose steam due to a slowdown in the United States, Mexico's main trading partner.

 
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better