MEXICO CITY—Remittances sent by Mexican nationals to their home country saw a 1% annual contraction through June and totaled $5.6136 billion, according to figures from the Bank of Mexico.
The bank cited a slowdown in employment in the United States, Heraldo USA reported, adding that on a monthly basis remittances recorded a 9.6% drop compared to June, when a historic high of $6.2069 billion was reached.
With seasonally adjusted figures, meaning the elimination of exogenous seasonal factors of a non-economic nature that influence the behavior of monthly economic statistics, remittances fell 11.9% month-on-month, reaching $5.222 billion, Heraldo USA said.
Additional Data
This decrease was reflected in the recipient families, who received $402 in July, $17 less than the previous month.
Meanwhile, remittance income from January to July this year totaled $36.9401 billion, representing an annual growth of 2.9%, the lowest since 2013, Heraldo USA added.