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Reuters
Published
Jun 26, 2009
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Mexico April retail sales fall 5.8% year on year

By
Reuters
Published
Jun 26, 2009

MEXICO CITY, June 25 (Reuters) - Mexican retail sales fell for the eighth straight month in April, sliding 5.8 percent from a year earlier as the country trudged through a severe recession, the national statistics agency said on Thursday 25 June.



Mexico's economy is contracting sharply because recession-stricken U.S. consumers are buying fewer goods made south of the border, fueling a spike in unemployment that is hitting retailers.

The OECD expects Mexico's economy will contract 8 percent this year.

In April, Mexican consumers bought fewer cars, computers and other goods, the statistics agency said in a report. Analysts polled by Reuters forecast total retail sales MXRSLY=ECI to decline 4.0 percent during the month.

Wholesale sales, often an indicator of the future performance of retail sales, were down 15.7 percent in April compared with the same month a year ago.

(Reporting by Jason Lange; Editing by James Dalgleish)

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