*Mexico’s national statistics institute has announced that gross fixed capital formation (GFCF) in December 2024 was down by 4.1% in annual terms, and by 2.6% in monthly terms. The annual decline was the result of a 9.5% decrease in investment in construction, although investment in machinery and equipment was up by 1.9% year-on-year. The monthly drop was driven by a 1.8% decline in construction investment and a 3.8% decline in investment in machinery and equipment. Over the whole of 2024, GFCF was up by 3.4% compared with 2023 due to a 1.8% rise in construction investment and a 5.3% rise in equipment and machinery.
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