Macro Analysis /
Global

Mexico: Remittances – New high in July on strong US labor market

  • Remittances reached US$5,296.8mn (16.5% y/y), marking a third straight month with the amount above US$5 billion

  • Sequentially, remittances grew 4.4% m/m in a context of a more moderation US demand, but resilient labor market

  • We remain optimistic on remittances during 2H22, although we will remain focused on the evolution of the US labor market

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 2022
Published byBanorte

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