Mexico gross fixed investment rises in July

MEXICO CITY – 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.

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)