Mexico's retail sales up 2.1% y/y in July
Retail sales in Mexico rose 2.1% year-on-year in July, accelerating by 1.1% compared to June, CEEMarketWatch reported citing figures released by the statistics office INEGI. This is sector's second best result since February and it contrasts with Mexican economy's still ongoing stagnation.
The growth was mainly driven by cars and fuels sales, which jumped 4.6% y/y during the month, sharply improving compared to a weak H1. On the negative side, food, beverages and tobacco sales fell by 1.3% y/y.
Employment in the industry decreased for seventh consecutive month by 0.3% y/y. On the contrary, employment in the wholesale industry grew by 2.1% y/y in July.Original source: CEEMarketWatch