FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Mexico retail sales decreased 1.1% m/m sa in September mostly driven by a strong decline in food and hardware sales partially offset by an important increase in domestic equipment sales, among other items. In annual terms, retail sales increased 4.9% y/y.
"This is the first monthly decline observed since April this year, while the ANTAD same store sales index declined 0.3% m/m sa in real terms, suggesting that a deceleration should be expected in Q4 15. All in, we expect the economy to expand 0.4% q/q sa in Q4 after the 0.8% q/q sa expansion observed in Q3", says Barclays.
Next months the retail sector should maintain momentum if the job creation process continues under stable inflation. There is room for better job creation dynamics: during Q3, total jobs increased 2.6% y/y, but the improvement was mostly observed in the positions that earn between 1 and 2 minimum wages (10.1% y/y) while there has been job destruction in jobs with incomes of 5 minimum wages or higher (-10.3%).
