Mexico’s retail sector grew 2.3 percent in the first half of 2021, compared to the same period last year, according to figures from the National Association of Self-service and Department Stores (ANTAD). However, sales remain 6.3 percent below the same period in 2019, prior to the pandemic.
Between January and June of this year, retail sales amounted to 598.3 billion Mexican pesos ($30 billion), while 2020 registered 584.4 billion pesos ($29.3 billion), affected by closures and confinement.
Janneth Quiroz , Deputy Director of Analysis of Grupo Financiero Monex, told Mexican media outlet, La Jornada, that although a recovery in the first half is a sign that consumption continues to come back, it’s returning at a far slower pace than in countries that implemented fiscal and monetary stimulus.
June’s numbers, in particular, show promise. ANTAD reported that the comparable sales of the 68,000 stores in its network shot up 21 percent compared to the same month in 2020, when they fell 17.9 percent year-on-year as a result of the pandemic.
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