关税之下，墨西哥人还在买！2月消费逆势上涨1.2%

Group 1 - The core viewpoint indicates a slight recovery in private consumption in Mexico, with a month-on-month increase of 1.2% in February 2025, despite external pressures such as tariffs and global demand slowdown [1][3] - The monthly growth in total consumption suggests short-term consumer spending momentum, particularly after a period of inflation easing post-Chinese New Year, although the year-on-year decline of 0.7% reflects ongoing economic challenges from 2024 [3][5] - The increase in domestic goods consumption by 2.1% and imported goods consumption by 2.7% indicates a structural demand for certain products, particularly in the home appliance, mobile accessories, and quality daily necessities sectors [6] Group 2 - The service sector's consumption growth of only 0.3% highlights insufficient local consumer confidence, which may pressure experience-driven categories such as beauty, fitness, and entertainment products [6] - The GDP growth of 0.2% in Q1 2025 marks a halt to the previous quarter's decline, suggesting that the Mexican economy is approaching a "soft landing" [6] - The current economic environment, characterized by modest growth, emphasizes the need for companies to understand local consumer preferences and adapt their strategies accordingly, focusing on emotional engagement rather than just discounts [6]