October 10, 2012 / 1:27 PM / 5 years ago

Mexico gross fixed investment rises in July

MEXICO CITY (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.

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

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