*Mexico’s national statistics institute (Inegi) has released new figures which show that gross fixed capital formation (GFCF) increased by 19.7% last year amid the rise of nearshoring. The growth was driven by a 20.8% increase in investment in construction and 18.5% in machinery & equipment. Private and public investment rose by 19.7% and 19.6%, respectively. In December 2023, the GFCF increased by 13.4% year-on-year due to a 21.8% increase in investment in construction and 5% increase in machinery & equipment. Meanwhile, seasonally adjusted data shows that the GFCF in December was unchanged from the previous month, when the GFCF decreased by 1.3% in monthly terms.
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