|Mexico April Gross Investment -1.1 Pct from March|
Patrick Rucker - Reuters
go to original
July 15, 2010
Mexico City - Mexican gross fixed investment fell by the most in nearly a year, dropping 1.06 percent in April from March, the national statistics agency said this week.
While the investment figure lags other economic indicators, the contraction could take some shine off analysts' expectations for recovery in the Mexican economy.
It was the biggest drop since May 2009. Mexico is limping back from its deepest recession since the 1930s.
The measure of spending on machinery, equipment and new construction was up 0.5 percent from April 2009 MXGFI=ECI, below a forecast increase of 2.1 percent.
Mexico's economic fate is closely tied to the United States which buys about 80 percent of Mexican exports.
Mexican industry has expanded in recent months as factories churn out cars, televisions and other goods for consumers in the United States but overall industry output, which accounts for about 40 percent of the economy, rose only 0.5 percent in May from April.
(Editing by James Dalgleish)