Thread: July remittances up 9.4% year over year

July remittances up 9.4% year over year

Also up are the central bank's growth projections for this year and next



Mexico News Daily | Saturday, September 2, 2017

Remittances sent home from Mexicans working abroad — mostly in the United States — spiked in July to US $2.45 billion, 9.4% more than July 2016 and up slightly from the previous month’s $2.41 billion, the Bank of México reported.

It was still shy of the $2.58 billion recorded in May, which is typically a big month for remittances due to Mother’s Day.

The increase was considerably higher than what analysts had expected.

Total for the first seven months of the year was $16.4 billion, up 6.42% over the same period last year.

The 2016 total was a record $26.99 billion, money that went a lot farther due to the peso’s plunge against the dollar during the year.


On Wednesday, the central bank revised its economic growth projections for the current year to a range of 2% to 2.5%, up from the previous forecast of 1.5% to 2.5%.

It also raised its 2018 forecast to 2% to 3% from 1.7% to 2.7%.

The bank said the outlook had improved with a recovery in international economic activity and trade, while in the domestic market there were signs of resilience and business and consumer confidence was gradually rising.

http://mexiconewsdaily.com/news/july...ear-over-year/

Yeah...get your money out of the USA because you will be deported with NOTHING!

Originally Posted by Beezer

Yeah...get your money out of the USA because you will be deported with NOTHING!

Yep, I was thinking the same thing. They know DACA is ending and they're trying to ship their money out as fast as they can. Good!!! Hope we have good news on Tuesday and the Trump Train gets these people out of here.