| | |  Business News 
Mexico March Retail Sales Rise 2.3 Pct
 Michael O'Boyle & Robert Campbell - Reuters
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May 21, 2010
Mexico City - 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.
(Editing by Theodore d'Afflisio)
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