Leading Mexican retailer reports higher sales in March

13:57, April 09, 2010      

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Wal-Mart de Mexico, the nation's largest retailer, said Thursday its sales rose 3.1 percent in March,compared with the same month a year earlier.

During the first three months, the chain sold 4.4 percent more compared with the first quarter of 2009. Because the chain is so large, Wal-Mart sales are often treated as a weather vane for what is happening in the economy as a whole.

Mexico is currently recovering from a recession marked by declines of more than 10 percent during the second quarter of last year.

Mexican consumer confidence reached 81.8 percent in March, an increase from 79.4 percent in the same month a year earlier.

The nation is experiencing a recovery led by its manufacturing sector, which relies on exports to the United States, Mexico's largest trading partner. Employment was slightly higher in February, with only 5.43 percent of Mexicans of working age registered as unemployed.

Source: Xinhua


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