Mexico: Retail sales – A setback in November despite the discount season

  • Retail sales fell 0.2% m/m (2.4% y/y), despite positive expectations due to El Buen Fin’s discounts

  • Sector dynamics were mixed, highlighting -2.0% in ‘vehicles and fuels’ and -2.1% in internet sales

  • Adding December’s timely data to these, we expect that retail sales will continue to decelerate in coming months

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