Investment picks up in December 2021, growing 2.1% at a monthly rate

Investment picks up in December 2021, growing 2.1% at a monthly rate

The investment indicator rebounded in the last month of 2021 to stand at 94.6 points. This after, in preliminary data, investment had fallen 0.1 points during November, at a monthly rate.

In this way, December meant the second month of 2021 with the best level of investment; after August, when the indicator stood at 94.9 points, with seasonally adjusted series.

However, gross fixed investment is still far from reaching its full recovery. In January 2020, before the effects of the pandemic, the index was at 101.1 points. Therefore, until December 2021, investment is still 6.5 points below the pre-pandemic level.

For experts such as the deputy governor of the Bank of Mexico, Jonathan Heath, private investment has been “the great absentee” for the country’s economic recovery. And, in a recent interview, he described the recovery of this factor as “mediocre” during 2021.

“We don’t really have any growth engines. And within all this, the great absentee has been private investment,” Heath observed in an interview for Expansión.

If the accumulated investment levels of 2021 are taken into account, the indicator had a rebound of 10%. Something not seen in recent years, but with the exception that investment had experienced strong contractions in the last two years: 4.7% in 2019 and 17.8% in 2020.

By components, during December 2021, expenses in machinery and equipment grew 2.2% at a monthly rate, while investments in construction remained unchanged.

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