Overview
- Argentina’s SME retail sales fell 4.1% year over year in November and plunged 9.1% month over month (seasonally adjusted), with six of seven sectors down and only pharmacies up 1.8%, according to CAME.
- Mexican consumer confidence dropped 1.6 points in November to 44.2, the steepest monthly fall in four years and the third consecutive decline, INEGI and Banxico reported.
- Citi’s market survey lowered Mexico’s GDP forecast to 0.4% for 2025 and 1.3% for 2026, underscoring a weaker outlook than the government’s projections.
- Ceesp, drawing on Banxico’s specialist survey, highlighted a higher probability of GDP contraction in Q4 2025 and Q1 2026 and put the 2025 growth estimate near 0.39%.
- Peru’s business expectations remained broadly positive in November, yet construction indicators stayed below the 50-point threshold, with three‑month investment at 39.3, BCRP and the MEF reported.