Mexico's retail sales increased more than economists expected in February, data released by statistical office INEGI showed Monday.
Retail sales increased 7.6 percent on an annual basis in February, markedly faster than the 4.4 percent growth seen in January. Economists were looking for a 4.9 percent gain for February.
On a monthly basis, retail sales edged up a seasonally adjusted 0.21 percent in February, following the previous month's 0.86 percent increase, which was revised down from 0.87%.
At the same time, wholesale trade in Mexico increased at a faster rate of 5.4 percent annually in February than January's 4.6 percent growth. On a monthly basis, wholesale sales decreased a seasonally adjusted 1.06 percent, after falling 1.05 percent in the previous month, the agency said.
by RTT Staff Writer
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