Mexico: Remittances growth slows in October
Remittances totaled USD 3.1 billion in October (September: USD 3.1 billion), a 3.6% increase from the same month a year ago (September; +13.0% year-on-year). Although easing sharply from September’s surge, October’s climb was healthy and came alongside a slight slowdown in U.S. non-farm payrolls growth. Meanwhile, the average amount remitted fell to USD 322 from USD 328 a month prior.
In the 12 months up to October, remittances totaled a record-high USD 36.0 billion, above the USD 35.9 billion recorded in the 12 months up to September. October’s 12-month rolling total marked a 9.5% increase from a year earlier (September: +9.7% yoy).