UPDATE 1-Mexico March retail sales rise 2.3 pct

(Recasts, adds detail on sales, background on economy)

MEXICO CITY, May 21 (BestGrowthStock) – Mexican retail sales rose
more than expected in March, led by clothing and household
goods and appliances, the national statistics agency said on
Friday.

Sales rose 2.3 percent in March from the same month a year
ago. Analysts surveyed by Reuters had expected sales to rise
1.95 percent.

Weak consumer demand led Mexico’s economy to contract in
the first quarter compared with the fourth quarter of 2009 as
higher taxes and energy costs dampened demand. [ID:nN20376241]

Overall economic output contracted 0.35 percent during the
first three months of the year compared with the fourth quarter
of 2009.

Consumer spending accounts for about two-thirds of Mexico’s
gross domestic product.
Stock Market Basics

(Reporting by Michael O’Boyle and Robert Campbell; Editing by
Theodore d’Afflisio)

UPDATE 1-Mexico March retail sales rise 2.3 pct