Mexico Retail Sales Fall 0.3%

(RTTNews) - Mexico's retail sales decreased unexpectedly in February after rising the previous two months, data from the National Institute of Statistics and Geography, or INEGI, showed on Thursday.

Retail sales fell a seasonally adjusted 0.3 percent month-on-month in February, reversing a 1.7 percent gain in January. Meanwhile, economists had expected a 0.2 percent rise.

On a yearly basis, retail sales growth decelerated to 3.2 percent in February from 4.9 percent a month ago.

Without adjustment, retail sales advanced 3.4 percent annually in February, versus an expected increase of 4.0 percent.

Sales of groceries, food, drinks, ice, and tobacco textile products fell 4.5 percent annually in February, while those of costume jewelry, clothing accessories, and footwear surged 11.1 percent.

Data also showed that the wholesale trade decreased by 1.5 percent annually and by 0.4 percent monthly in February.