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Mexico: Strong Retail Sales
- Retail sales were stronger than anticipated in August. In annual terms, sales rebounded from 2.6% year-on-year in July to 4.8% year-on-year, keeping the three-month average virtually unchanged at 4.4%. On a seasonally adjusted basis, retail sales grew 1.1%, making up most of the previous month’s 1.3% reduction.
- These figures (along with industrial production and trade for the months of July and August) describe an economy whose growth during the third quarter may be close to that posted during the April-to-June period (4.1% year-on-year).