Mexico's January Retail Sales Rise from December Dow Jones
go to original March 21, 2013

Mexican retail sales rose modestly in January from the year-earlier month, and also posted a gain from December, when retail sales had posted a surprise drop, the National Statistics Institute, or Inegi, said Thursday.

Retail sales rose 1.8% in January from January 2012 on better sales of automobile parts, fuels and lubricants, paper products, personal-care items, clothing and shoes, among others, Inegi said. In seasonally adjusted terms, retail sales were higher by 2.08% in January from December.

Retail sales in December had posted a surprise fall of 1.8% on the year and a drop of 3.7% in seasonally adjusted terms from November, when sales had been fueled by a holiday shopping event similar to "Black Friday" in the U.S.

Banorte said in a research note it expects retail sales to continue recovering in the first quarter of the year, due to factors such as lower inflation in recent months and rising consumer confidence in the first two months of the year, which is perhaps being driven by the new government's success in pushing through structural reforms in recent months.

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