Macro Analysis /
GlobalRetail sales extend their upward trend for a tenth consecutive month in May
Retail sales rose 0.5% m/m (5.2% y/y), driven by positive seasonality and discounts, although limited by inflation
Sector dynamics were mainly positive, highlighting +2.4% in office and leisure items and +1.7% in glass and hardware
A deterioration in the balance of risks in June, with higher inflation and a gap in social transfers, may dampen sales
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
21 July 2022
Published byBanorte
