Buying Power Up, but Sales Flat

MEXICO - Report 08 Jul 2014 by Mauricio González and Ernesto Cervera
Executive Summary During the first six months of 2014 we have witnessed a recovery in the main determinants of private consumption, but so far it has failed to help accelerate growth in sales. The flow of workers actively paying into the social security system through the first five months of 2014 was 23% greater than in the same period of 2013. We have also seen recent growth in another fundamental component of private consumption, beginning in March. Following the initial (January to February) negative impact of tax and public fee hikes ushered in by last year’s fiscal reform, real wages ...

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