Mexico: Remittances Rise 3% in July, Sixth Consecutive Month of Growth

WHAT HAPPENED

Mexico received $5.571 billion in remittances in July, 3% more than a year ago. It is the sixth consecutive month of growth. There were 13.1 million transfers, averaging $426 each.

WHY IT MATTERS

Remittances pay for food, rent, and supplies for millions of families. If they rise, spending in local stores and businesses also increases, especially in Michoacán, Guanajuato, Jalisco, and Oaxaca. Commerce and construction feel it first; more dollars also support the peso.

AND FOR YOUR PORTFOLIO

For a long-term portfolio, the data points to more resilient consumption in regions that receive more money from abroad. It also shows that employment and immigration policies in the U.S. can affect the spending of families and businesses in Mexico.