MEXICO CITY – Gross investment in equipment and construction in Mexico increased 8.4 percent in January over the same month in 2014, the National Institute of Statistics and Geography said Wednesday.
Investment in machinery and equipment grew 16.8 percent, while spending on business construction rose 4 percent.
Seasonally adjusted data show a 1.5 percent increase in gross fixed capital formation from December to January, thanks to 6.4 percent growth in spending on equipment.
Gross fixed investment in 2014 was 2.3 percent higher than the previous year as a result of a 5.5 percent increase in the category of machinery and equipment and a 0.5 percent advance in business-related construction.
Mexico’s economy grew by 2.1 percent in 2014, an improvement from 1.4 percent growth in 2013, but far short of the government’s forecast, which called for a 3.9 percent expansion.
The Mexican government projects gross domestic product will grow this year by between 3.2 and 4.2 percent.