Mexico's retail sales increased at a notably slower rate in March, and the rate of growth missed economists' expectations, data released by statistical office INEGI showed Tuesday.
Retail sales increased at a sharply slower rate of 4.3 percent year-on-year in March than February's 7.6 percent. Economists expected sales to gain 5.4 percent during the month.
Month-on-month, retail sales decreased a seasonally adjusted 0.53 percent in March, reversing the previous month's 0.19 percent rise. In the January-March period, retail trade advanced 5.4 percent from the corresponding period a year earlier.
At the same time, wholesale sales in Mexico advanced 2.6 percent on an annual basis in March, following the previous month's 5.4 percent growth. Compared to February, wholesale trade edged up 0.03 percent, the agency said.
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