Mexico Consumer & Retail Q3 2019
We hold an optimistic outlook for the Mexican consumer in 2019, with a number of positive trends and datapoints converging to higher spending growth. Unemployment remains low at around just 3.5%, creating a tight labour market andstronger real wage growth as inflation falls and increases in the minimum wage. Surging consumer confidence from the aftermathof the inauguration of Andrés Manuel López Obrador in December 2018 implies that consumers will look to spend more freely overthe year, leading to higher retail sales.
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