(Adds background, detail on currency)
MEXICO CITY, April 26 Mexican retail sales rose
by the most in 3-1/2 years in February compared to the previous
month, official data showed on Wednesday.
Retail sales rose 2.4 percent in February from January, the
national statistics agency said, bouncing back after slipping
two months in a row and coming in above a forecast in a Reuters
poll for a 0.6-percent expansion.
Consumer confidence in Latin America's No. 2 economy sank to
a record low in January after a big gasoline price hike and a
slump in the peso to a record low on fears U.S. President Donald
Trump could rip up a free trade deal with Mexico.
But the peso has rallied back as the countries have taken a
more constructive tone on trade talks.
Sales increased 3.6 percent in February compared to the same
month a year earlier, slightly above the 3.35 percent expected
in a Reuters poll.
Retail sales (pct change) Feb 2017 Jan 2016 Feb 2016
month/month 2.4 -1.3 0.2
year/year 3.6 4.9 9.6
(Reporting by Michael O'Boyle; Editing by Nick Zieminski)