Mexico Retail Sales Rebound 2.3% In June

(RTTNews) - Mexico's retail sales expanded strongly after falling in the previous month, data from the National Institute of Statistics and Geography, or INEGI, showed on Friday.

Retail sales rose a seasonally adjusted 2.3 percent month-over-month in June, reversing a 0.5 percent drop in May. Economists had expected an increase of 0.9 percent.

Further, this was the sharpest rate of growth since March 2022, when sales had risen 2.8 percent.

On a yearly basis, retail sales growth accelerated to 5.2 percent in June from 2.6 percent a month ago.

Without adjustment, retail sales advanced 5.9 percent annually in June, versus an expected increase of 2.9 percent.

Sales of textile products, costumes, jewelry, clothing accessories, and footwear logged a sharp annual growth of 19.4 percent.

Data also showed that wholesale trade decreased by 4.6 percent annually, while it rose 0.9 percent monthly in June.