Mexico Remittance Strength Outpaces Even the Most Optimistic
- Remittances climbed to $3.5 billion in June, beating estimates
- Trend likely to help low-income families back in Mexico
This article is for subscribers only.
Even President Andres Manuel Lopez Obrador, who has been touting the strength of Mexico’s remittances, underestimated the amount of money workers abroad sent home in June.
Latin America’s second-largest economy posted $3.54 billion in June remittances, the second biggest inflow on record after March, and an 11% gain compared to a year ago, the central bank said on its website Monday. The result topped all analyst estimates in a Bloomberg survey, which had $3.21 billion as the average forecast. In a video on Saturday, Lopez Obrador had predicted $3.4 billion.