Private consumption, one of the main engines of the economy, fell during the fifth month of the yearafter linking 12 months of growth, product of the lower demand for national goods, reveal the data published by the National Institute of Statistics and Geography (Inegi).
The Monthly Indicator of Private Consumption in the Internal Market reported a monthly drop of 0.4% during Mayits first decrease since June last year, despite the above, it still remains 2.6% above the level registered in January 2020 prior to the pandemic.
The consumption of national goods and services registered a monthly contraction of 0.7% last May. While the demand for goods contracted 1.1%, that for services saw an increase of just 0.1 percent.
For its part, the consumption of imported goods is the segment that reported the greatest dynamism, with a monthly increase of 0.6%which links four consecutive months to the rise and is 22.1% higher than the level registered before the health crisis.
After two months of growth, physical investment also fell during the fifth month of this year, as a sign of the country’s economic slowdown.
In May 2022, based on seasonally adjusted figures, Gross Fixed Investment decreased 1.2%, at a monthly rate, slowing down the recovery that had been registered during last March and April.
With this result, physical investment still extends the loss suffered by the pandemic, standing 2.0% below the level reached in January 2020 and 12.0% lower than its maximum reached in September 2015.
The monthly decline in May was mainly due to the decrease in investment in construction, which registered a monthly contraction of 2.7%. While residential saw a drop of 3.3%, non-residential achieved a marginal growth of 0.1 percent.
It should be noted that construction is the most lagging segment of physical investmentbeing 12.2% below the level reached in January 2020, prior to the health crisis.
Investment in machinery and equipment reported a monthly decrease of 1.0% in May. Inside, the imported material stands out with a contraction of 1.5%, while that of national origin decreased 0.4 percent.
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