January 27, 2020 / 1:43 PM / a month ago

Mexico retail sales post biggest monthly rise in over three years

FILE PHOTO: A man packs goods in a supermarket in Ciudad Juarez, Mexico November 15, 2019. REUTERS/Jose Luis Gonzalez

MEXICO CITY (Reuters) - Mexican retail sales posted their sharpest monthly increase in more than three years in November, delivering a lift in the final quarter to the country’s struggling economy, official data showed on Monday.

The seasonally-adjusted 1.7% month-on-month rise was the biggest since October 2016, according to figures published by national statistics agency INEGI.

The figures marked the third monthly increase in four months, but followed a drop of 2.3% in October 2019.

Mexico’s economy has flirted with recession over the past year and a preliminary estimate for gross domestic product in the fourth quarter of 2019 will be published on Thursday.

In unadjusted terms, retail sales increased by 2.1 percent in November compared to the same month a year earlier.

Writing by Dave Graham; Editing by Catherine Evans

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