Retail sales in Mexico increased 3.8% in July compared to the year-ago period, an increase that was more than double analysts’ expectations.
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According to Mexican statistics institute INEGI, wholesale sales fell slid 1.9% in July. Analysts had been expecting a fall of 3.03%, reported Reuters.
Retail sales in the January to July period rose 2.7% year-on-year, while wholesale sales dropped 2.2%.
The country’s National Association of Supermarkets and Department Stores (ANTAD), which does not include figures from retail giant Wal-Mart de Mexico, said same-store sales increased 4.8% in August compared to the year-ago period.
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