Consumption and investment advance less than 1% in February – El Sol de México

In February, the private consumption and gross fixed investment In Mexico they registered positive results, although with monthly growth below 1 percent, according to the National Institute of Statistics and Geography (Inegi).

On the side of private consumptionInegi announced that there was an increase of just 0.6 percent compared to the previous month.

This indicator was driven by the purchase of goods from abroad, which grew 2.6 percent compared to January, while the acquisition of national goods and services advanced 0.6 percent.

Most of Mexicans’ purchases were concentrated in durable goods, according to Inegi, such as automobiles, refrigerators, washing machines, televisions, computersamong others.

According to the private investmentthe organization in charge of Graciela Márquez Colín published that during February there was a monthly rebound of only 0.7 percent.

Said indicator advanced due to a greater purchase of machinery and equipmentmainly imported, which rose 2.6 percent compared to January.

Regarding construction, which is part of the indicator of gross fixed investmentthe Inegi indicated a drop of 1.3 percent in monthly terms due to a drop in the residential sector.

In its annual comparisons, that is, with respect to February 2023, the private consumption and gross fixed investment grew 3.9 and 10.7 percent, respectively, according to Inegi.

Both indicators are the main economic variables that, according to the Ministry of Finance, will be the driving force of country growth during 2024 coupled with greater investment by foreign companies in Mexico.

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By the end of the year, the agency expects the country to grow between 2.5 and 3.5 percent.

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