Mexico: Domestic demand – Investment lower but consumption stronger in February

  • GFI fell 3.0% m/m (+1.7% y/y), dragged by non-residential construction, but with machinery and equipment rebounding

  • Consumption grew 1.3% m/m (9.9% y/y), adding 8 months higher with an accumulated expansion of 5.9%

  • We expect domestic demand to keep recovering. However, signs have become more uncertain, especially for investment

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