Overview
- INEGI data show gross fixed investment fell 1.8% month‑on‑month in August 2026, reversing two months of gains and cutting short recent monthly momentum.
- On a year‑over‑year basis investment still rose for the fifth straight month in August, helped by a 7.6% annual jump in construction spending.
- Public investment expanded far faster than private outlays, with public fixed investment up 11.1% in August and 10.8% for January–August against a 4.8% August rise and 0.9% January–August gain for private investment.
- Machinery and equipment showed clear weakness: it was up 3.5% year‑on‑year in August but fell 3.5% month‑on‑month on a seasonally adjusted basis and had a 0.5% decline for January–August 2026.
- Through August the aggregate picture is mixed: fixed investment is up 2.2% year‑to‑date versus 2025, but the recovery is concentrated in construction and public projects and could stall if business capital spending does not rebound or if policy and external factors change.