Market News
MEXICO CITY, Nov 6 - Mexican businesses, particularly those linked to real estate and construction, are counting on investment from so-called"nearshoring" to boost profits and economic growth, especially in industrial zones near the U.S. border.
"Many companies are already talking about this - about nearshoring and the economic benefits," said Gerardo Copca, an analyst at consultancy MetAnalisis."And I do think this will take off." It will, however, take time, he cautioned. Mexican gross fixed investment is on track to post its strongest annual growth since 1997, leaping 31.5% year-on-year in seasonally adjusted terms in August, the latest data.
ENERGY WORRIES Meanwhile, estimated manufacturing property demand for 2023/24 stands at 2.5 million square meters, up nearly 80% from last year, according to industrial parks association AMPIP. As it seeks to lure manufacturing capacity away from Asia, Mexico can take advantage of its shared border with the United States, the world's largest economy, and multiple trade pacts, including USMCA, which includes Canada.
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