Retail sales in Mexico – the main indicator of family consumption activity – registered their lowest boost since June in September, according to figures from the National Institute of Statistics and Geography (Inegi). According to the Monthly Survey on Commercial Companies (Emec), income from the supply of goods and services in retail trade did not register monthly growth after the timid advance in August of 0.5 percent, exhibiting a trend of low dynamism for the fourth consecutive month.
The above caused that in its annual measurement, retail sales, which although maintained their positive trajectory, slowed their growth to 2.4 percent annually in September.
With original figures, retail trade grew 3.3 percent annually in September, supported by sales exclusively through the Internet, printed catalogues, television and the like, growing 23.8 percent annually. This was followed by household goods, computers, interior decoration items and used items, with 9.7 percent.
On the other hand, groceries, food, beverages, ice and tobacco fell 4.2 percent annually in September and self-service and department stores, 0.1 percent.
“In its annual comparison, signs of moderation begin to be reflected in the coming months. Likewise, according to the figures observed in the global indicator of economic activity (IGAE) for September, retail trade was one of the main items with declines within the services and commerce subsectors, which reflects moderation and a possible stagnation in household consumption,” explained Rosa Rubio, economic analyst at Monex.
▲ In its annual measurement, retail sales maintained their positive trajectory.Photo Jorge Ángel Pablo García
In its annual comparison, weakness is observed in services linked to consumption, such as food and beverages, which have accumulated eight consecutive months with negative variations, which suggests contained spending by families.
Rubio foresees that consumption will remain with a cautious bias, influenced by the low levels of consumer confidence and the inflationary outlook, which could limit spending in the last quarter of the year.
In September 2025, at a monthly rate and with seasonally adjusted data, real income from the supply of goods and services (amount obtained from all production, marketing or service provision activities) of wholesale commercial companies rose 2.5 percent, the third in a row.
At an annual rate, real income from the supply of wholesale goods and services reported a marginal drop of 0.048 percent.
Wholesale sales registered an increase of 2.4 percent annually, with original figures, without a statistical process. Pharmaceutical products, perfumery, leisure items, minor appliances and white goods presented the greatest advance with 9.8 percent.
In September 2025, with seasonally adjusted figures, real total income from the supply of goods and services of non-financial private services increased 0.1 percent compared to the previous month. In the accumulated of the year, January to September, non-financial private services presented an increase in their income of 2.9 percent annually. Total employed personnel grew 0.1 percent. Total expenditures for consumption of goods and services decreased 0.5 percent.