Sales figures show Mexican economy continues to weaken.(Brief Article)

MEXICO CITY -- The slowdown of the Mexican economy was underlined at the extreme point of last week by still another fall in retail and wholesale sales, with the National Statistics Institute (INEGI) reporting that retailers saw sales rise by dint of a disappointing 0.9% year-on-year in June Wholesale sales plung 103% in the same period. Although department store and supermarket sales held up auto sales dragged the retail figures down, suggesting that consumer are postponing big ticket purchases until the economic picture becomes clearer.

Emy Shayo, Latin America economist for Bear Stearns,