Overview of Retail Sales Growth in Mexico
In August 2025, retail sales in the Mexican market experienced a 0.6% monthly increase compared to the previous month, reflecting an annual growth of 3.1%. This marks six consecutive months of growth and the highest increase since November 2023, according to data released by the National Institute of Geography and Statistics (Inegi) on Thursday.
Monthly and Annual Comparisons
- The retail sales growth has been positive for four consecutive months on a monthly basis.
- On an annual basis, the retail sales growth has been positive for eight consecutive months.
Alignment with ANTAD’s Indicators
The annual growth rate of August aligns with the retail sales dynamics reported by the National Association of Self-Service Stores (ANTAD), which showed a nominal growth of 7.6% in August, the second-highest in the past twelve months.
Resilience Amidst Weak Fundamentals
Despite the positive retail sales growth, fundamental factors such as employment, remittances from family members, and consumer confidence remain fragile.
- Formal job creation in August fell by 62.5% to 21,750 positions, accumulating a 40.8% decrease to 216,538 hirings in the first eight months of the year.
- Remittances dropped by 8.3% to $5,578 million; in local currency, the decline was even steeper at 11.4% due to annual peso depreciation.
- The Consumer Confidence Index, also from Inegi, increased by 0.7 points monthly but remained below its August 2024 level, which was also down by 0.7 points.
Compensatory Factors in Consumption
On the other hand, other consumption factors like real wages and government transfers through social programs have remained positive.
- The daily wage for IMSS (Mexican Social Security Institute) contributions increased by a nominal 7.4% to 630.7 pesos per day, which is double the general inflation rate of 3.57% during the period.
- Cumulatively, retail sales grew by 1.6% from January to August, contrasting with the 0.2% decline during the same period in 2024.
Key Questions and Answers
- Q: What was the monthly growth rate of retail sales in Mexico in August 2025? A: The retail sales in Mexico grew by 0.6% in August compared to the previous month.
- Q: How did retail sales perform annually in August 2025? A: Retail sales increased by 3.1% annually in August, marking six consecutive months of growth.
- Q: How do the retail sales growth figures align with ANTAD’s indicators? A: The annual growth rate of August aligns with ANTAD’s retail sales dynamics, which reported a nominal growth of 7.6% in August.
- Q: What are the fundamental factors affecting retail sales growth in Mexico? A: Despite positive retail sales growth, fundamental factors like employment, remittances from family members, and consumer confidence remain fragile.
- Q: What compensatory factors have supported retail sales growth in Mexico? A: Real wages and government transfers through social programs have remained positive, supporting retail sales growth.
