Mexico foreign direct investment rises to $7.57 billion in first quarter

MEXICO CITY (Reuters) – Foreign direct investment (FDI) in Mexico rose to $7.57 billion in the first quarter of the year according to preliminary figures, boosted by U.S. telecoms giant AT&T’s <T.N> purchase of Iusacell, the economy ministry said on Wednesday.

The figure is 30 percent higher than the $5.8 billion obtained from January to March, 2014 when measured by preliminary calculations.

The result is a third less, however, than the $11.4 billion in FDI seen during the same period last year, according to final figures published on the ministry’s website.

The United States accounted for nearly 60 percent of first quarter 2015 foreign direct investment, with Spain and Japan contributing 14 and 8 percent respectively.

More than a third of the funds flowed into the manufacturing sector, with 29 percent spent in media and 20 percent in financial services, the ministry added.

(Reporting by Alexandra Alper; editing by Andrew Hay)

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