Mexico Retail Sales Fall Unexpectedly In May

(RTTNews) - Mexico's retail sales decreased unexpectedly in May after recovering in the prior month, data from the National Institute of Statistics and Geography, or INEGI, showed on Tuesday.

Retail sales fell a seasonally adjusted 0.5 percent month-over-month in May, reversing a 1.3 percent rise in April. Meanwhile, economists had expected an increase of 0.3 percent.

On a yearly basis, retail sales growth moderated to 2.3 percent in May from 4.4 percent a month ago.

Without adjustment, retail sales advanced 2.6 percent annually in May, versus an expected increase of 3.5 percent.

Sales of textile products, costumes, jewelry, clothing accessories, and footwear logged a sharp annual growth of 13.4 percent.

Data also showed that wholesale trade decreased by 4.8 percent annually, while it rose 1.4 percent monthly in May.