UPDATE 1-Mexico April gross investment -1.1 pct from March

(Adds background, detail on data)

MEXICO CITY, July 13 (BestGrowthStock) – Mexican gross fixed
investment (MXGFIN=ECI: ) fell by the most in nearly a year,
dropping 1.06 percent in April from March, the national
statistics agency said on Tuesday.

While the investment figure lags other economic indicators,
the contraction could take some shine off analysts’
expectations for recovery in the Mexican economy.

It was the biggest drop since May 2009. Mexico is limping
back from its deepest recession since the 1930s.

The measure of spending on machinery, equipment and new
construction was up 0.5 percent from April 2009 (MXGFI=ECI: ),
below a forecast increase of 2.1 percent.

Mexico’s economic fate is closely tied to the United States
which buys about 80 percent of Mexican exports.

Mexican industry has expanded in recent months as factories
churn out cars, televisions and other goods for consumers in
the United States but overall industry output, which accounts
for about 40 percent of the economy, rose only 0.5 percent in
May from April.
(Reporting by Patrick Rucker; Editing by James Dalgleish)

UPDATE 1-Mexico April gross investment -1.1 pct from March