Mexico | Consumption grows 1.4% in December with a boost from the services sector

Summary

The year-end data confirms the slowdown in consumption in 2H21, a period that registered a 4.9% variation, compared to the previous semester, a figure that contrasts with the 10.6% figure observed in 1H21.

Key points

• Key points:
• Data by components show a positive evolution of the services segment (1.7% MoM, sa), while the goods sector fell (-)0.2% MoM (sa).
• Within the services component, spending in hotels grew 2.8%, while consumption in restaurants increased 3.1%.
• In terms of mobility, gasoline consumption grew 5.9% MoM (sa), reaching a level 8% above its pre-pandemic figure.
• We anticipate less dynamism in the consumption of both goods and services ahead, given the general increase in prices.

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