Mexico gross fixed investment rises in July

Reuters

Mexican gross fixed investment rose 0.9 percent in July from June, the national statistics agency said on Wednesday.

The measure of spending on machinery, equipment and new construction rose at a faster pace than the nearly 0.3 percent month-on-month rate in June, and the gauge expanded for the second straight month after posting its biggest drop in nearly 3-1/2 years in May.

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Solid U.S. demand for local exports has been supporting Mexican growth despite a wider global slowdown.

Gross fixed investment was up 6.6 percent from the same month a year earlier compared to a 2.7 percent year-on-year rate seen in June.

(Reporting by Michael O'Boyle; Editing by James Dalgleish)