Overview

• Preliminary data show the inflow was dominated by reinvested earnings at 84.4%, with new investments at 9.2% ($3,149 million) and intercompany accounts at 6.4%.
• New investments reached $3.15 billion, the highest level in 12 quarters and sharply above the prior year.
• The United States provided 42.9% of the total, followed by Spain and Canada, with capital concentrated in Mexico City and in manufacturing and financial services.
• Analysts note the 10.2% year-over-year increase could be closer to about 2.5% after Banxico’s revisions; final figures are expected on August 25.
• President Claudia Sheinbaum cast the result as validation of the 4T agenda, asserting that higher wages and U.S. tariffs did not deter foreign investment.