Macro Analysis /
Global

Mexico: Family remittances – New historical high in July

  • Inflows stood at US$4,540.3 million, significantly above expectations and a new historical high, up 28.6% y/y

  • With seasonally adjusted data, remittances surged 3.9% m/m, in our view very resilient on strong employment in the US

  • The report was very positive. Short-term data will be key to gauge if a slowdown is due for the second half of the year

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
1 September 2021
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