According to data from the Inegithe gross fixed investment grew 0.37% monthly in November, slowing down compared to the advance in October. The impetus came almost exclusively from the constructionthat increased 1.49% monthlywith growth in both the residential segment (0.72%) and the non-residential segment (2.19%), both for the second consecutive month. In contrast, investment in machinery and equipment contracted again (-0.20% monthly).
“The rebound was mainly explained by construction, which saw two months of increases, while investment in machinery and equipment continues to show a lag, particularly that of national origin, reflecting caution in investment decisions,” Monex explained in an analysis note.
At an annual rate, gross fixed investment fell 5.68% in November, accumulating 15 consecutive months of declines, a streak only comparable with periods of recession. The 11.63% annual drop in machinery and equipment stands out, while construction achieved a slight growth of 0.62%, supported by residential dynamism.
When separated by sector, private investment in construction grew 7.76% annually, but public investment plummeted 23.98%, reflecting the lower spending on physical investment by the federal government.
