Mexico | Consumption grew 3.5% in February, with a boost from the services sector
Published on Friday, March 15, 2024
Big Data techniques used
Mexico | Consumption grew 3.5% in February, with a boost from the services sector
By components, the services segment grew 4.7% MaM, while the consumption of goods grew 3.1% MaM, in real terms, with seasonally adjusted figures
Key points
- Key points:
- Within the services sector, the hotel segment reported the highest dynamism, with a 8.1% MoM, followed by consumption in restaurants, which registered a monthly variation of 3.4%.
- Regarding the goods segment, spending on food grew 3.6%, while consumption of health care goods registered a monthly variation of 4.9%, the highest since August 2023.
- We consider that factors such as the accumulated gains in the real wage bill and the lower proclivity to save would be preventing contractions in private spending during 2024.
- We estimate the dynamism of private consumption in the coming months will compensate for the lower growth of other components of domestic demand this year.
Documents to download
Geographies
- Geography Tags
- Mexico
Topics
- Topic Tags
- Consumption