Mexican Department Stores Optimistic About 2001.

MEXICO CITY, Aug 21, 2001

Despite the nation's economic slowdown, the National Association of Department Stores (ANTAD) maintained its estimate of 7.3 percent growth in sales at its member stores for 2001, reported Mexico City daily Reforma. ANTAD Chariman Luis Santana Castillo said while the economic slowdown is worrying, it is also true that variables affecting consumer spending have continued to move in a favorable direction. Inflation and interest rates are at lows, and the exchange rate has favored the peso, he said. ANTAD's member stores saw sales growth of approximately 5 percent in July 2001, according to preliminary figures. "The preliminary data we have up to now for July indicate that sales for total stores grew between 5 percent and 5.5 percent," he said.

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