Overview

• Gross fixed capital formation rose 0.9% month on month in May after a 1.6% drop in April, marking the largest monthly increase since July 2024.
• Residential construction led the rebound with a 7.8% gain while non-residential building investment slipped 4.4%.
• Domestic machinery and equipment outlays climbed 3.4% in May as imported machinery spending fell 1.8%.
• On a year-on-year basis, gross fixed capital formation declined 6.7% in May, with private investment down 4.9% and public spending plunging 25.8%.
• Private consumption contracted 1.03% month on month in May, driven by a 2.43% drop in spending on domestically produced goods.