The Mexico retail sales grew 3% in February annual reading after two previous consecutive months of falls, as published by the National Institute of Statistics and Geography (INEGI). This is the largest increase recorded by the indicator in four months. In February, sales fell 0.8%.
On a monthly basis, retail sales increased 0.4% in February after falling 0.6% in January, this being the largest increase seen since October.
Mexican peso reaction
The Mexican Peso has not reacted to the data, and is trading on the USD/MXN around 17.35, gaining 1.67% daily.
economic indicator
Retail Sales (YoY)
This survey of goods sold by retailers that publishes INEGI It is based on a sample of retail stores of different types and is considered an indicator of the pace of growth of the economy. It shows the performance of the retail sector in the short and medium term. A result higher than the market consensus is bullish for the Mexican peso, while a result lower is bearish.
Source: Fx Street
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