Financial News: Mexico Retail Sales Remain Flat In March

Mexico Retail Sales Remain Flat In March

05/19/2023 - 10:12:00 (RTTNews)

(RTTNews) - Mexico's retail sales showed no variations in March after falling in the previous month, data from the National Institute of Statistics and Geography, or INEGI, showed on Friday.

On a seasonally adjusted basis, retail sales remained unchanged over the month, following a 0.6 percent fall in February. Meanwhile, economists had expected a slight rise of 0.1 percent.

On a yearly basis, retail sales growth decelerated to 2.4 percent in March from 3.1 percent a month ago.

Without adjustment, retail sales advanced 2.5 percent annually in March, versus an expected increase of 2.9 percent.

Sales of motor vehicles, spare parts, fuels, and lubricants alone grew 6.9 percent from last year, and those of stationery items for recreation and others climbed 6.3 percent.

Data also showed that the wholesale trade decreased by 4.1 percent annually and by 0.1 percent monthly in March.

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