Mexico's Fixed Investment Falls in January

Mexico's gross fixed investment fell 3.3% year-over-year in January 2026, following a flat reading in December and below forecasts of a 2.1% drop. Spending on machinery and equipment fell 9.8% after declining 4.6% in December, with national sector investment down 12% and imported goods purchases down 8.3%. Investment in construction rose 3% following a 4.3% gain in the prior month, with residential spending up 6.8%, while non-residential construction dropped 0.5%. On a seasonally adjusted monthly basis, gross fixed investment declined 1.1% after rising 0.5% in December.

Mexico's gross fixed investment was unchanged in December 2025 compared to a year earlier, following a 6.5% decline in the prior month, above forecasts of a 2.8% drop, and marking the first non-negative result since August 2024. Spending on construction rose 4.3%, accelerating from 1.3% in November, driven by a 13.3% surge in residential construction. Meanwhile, investment in machinery and equipment fell 4.6%, moderating from a 14.7% plunge in the previous month, with national machinery and equipment down 9.3% and foreign purchases declining 1.2%. On a seasonally adjusted monthly basis, gross fixed investment expanded 0.5%, matching the growth rate recorded in November.

Mexico’s gross fixed investment fell 6.4% year on year in November 2025, following a 5.5% drop in October and missing forecasts of a 5.6% decline, marking the 15th straight month of contraction. Spending on machinery and equipment plunged 14.5%, led by a 19.5% fall in both domestic and imported transport equipment. Investment in national machinery and equipment declined 12.6%, while foreign purchases dropped 11.9%. Meanwhile, construction rose 1.3%, rebounding from a 0.6% contraction in October, as a 10.3% surge in residential activity offset a 6.5% fall in non-residential building. On a seasonally adjusted basis, investment edged up 0.4% month on month, slowing from October’s 0.9% gain.