Mexico Investment Falls a 19th Month as Capex Confidence Cracks

Mexico · Markets

Key Facts

—The signal: Mexico’s gross fixed investment fell 3.1% from a year earlier in March 2026, extending the decline to 19 consecutive months — one of the longest capex slumps in four decades.

—The driver: The contraction is led by private investment, with the national statistics institute INEGI flagging weakness in machinery and equipment alongside a 2.4% monthly drop in construction.

—The diagnosis: Banco Base’s Gabriela Siller called the declines “a lack of confidence in investing in Mexico,” tied to rule-of-law concerns and trade uncertainty with the United States.