Mexico's retail sales fall 0.9% in December, against estimates

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's retail sales fell 0.9% in December on a monthly basis, despite estimates of an increase, the country's statistical authority said Wednesday.

The expectation for the figure was to show a gain of 0.2%, while retail sales in November rose 0.1% from the previous month.

Total employed personnel in commercial retail companies decreased 0.1%. in December, the National Institute of Statistics and Geography (INEGI) said in a statement.

Retail sales rose 0.7% in December, compared to the same month in 2022, according to INEGI.

That figure also was much lower than the market expectation of a 2.5% gain. Retail sales in November increased 2.7%, year-on-year.