Mexico's retail sales increased at a faster pace in June, contrary to economists' forecast for a slower growth, data released by statistical office INEGI showed Wednesday.
Retail sales increased 5.6 percent on an annual basis in June, following the previous month's 5.2 percent gain. Economists had expected the growth rate to ease to 4.5 percent.
Month-on-month, retail sales grew a seasonally adjusted 1.77 percent in June, recovering from the previous month's 0.13 percent decrease.
At the same time, the country's wholesale trade increased at a slightly faster rate of 3.7 percent in June than 3.6 percent in May. Sequentially, wholesale sales increased 1.49 percent, after rising 0.18 percent in the previous month, data showed.
by RTT Staff Writer
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