Mexico Remittances Drop in August, Ending Six-Month Growth Streak

Banxico data shows August remittances fell, breaking a six-month uptrend, though cumulative January-August flows rose 2.2% YoY to $41.8B. The decline signals potential cooling in US labor demand or migrant income, a key support for Mexican consumption and peso. Uncertainty remains over whether this is a one-off or start of a sustained slowdown.