December 10, 2012 / 2:45 PM / 5 years ago

UPDATE 1-Mexico gross fixed investment rises in September

MEXICO CITY, Dec 10 (Reuters) - Spending on new investment goods in Mexico rose in September by the most since April, rebounding from a drop the previous month in a sign that the economy is holding up heading into the fourth quarter.

Gross fixed investment rose nearly 1.1 percent in September from the previous month, following a downwardly revised 1 percent drop in August, the national statistics agency INEGI said on Monday.

A jump in construction fueled the rise while a drop in imported machinery dragged on the monthly rate.

The measure of spending on machinery, equipment and new construction was up 3.1 percent from the same month a year earlier, compared with an upwardly revised 4.1 percent year-on-year growth in September.

Solid U.S. demand for local exports has supported Mexican growth despite a wider global slowdown and a pick-up in manufacturing in the fourth quarter has put the economy on track to grow about 3.9 percent in 2012.

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