Mexico: Family remittances–Strong in June despite signs of an economic cooldown

  • Remittances reached US$5,152.5 million (+15.6% y/y) in June, with a lower volume but strength in the average amount

  • Inflows grew 1.6% m/m, despite signs of a deceleration in US economic activity and the labor market

  • Although downside risks are on the rise, we maintain our 2022 remittances’ forecast at US$56.5 billion

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