Mexico | Spending by households waned and shaped another uplift of deposits in June

Summary

As some signs of an economic slowdown lurked in June, households were unable to consolidate their spending pattern and, once again, contributed to an increase of total bank deposits. Corporates unexpectedly supported this increase possibly influenced by the outlook of higher interest rates.

Key points

• Key points:
• Signs of an economic slowdown and the third wave of Covid could halt the recent downward trend in household deposits.
• The growth of total term deposits hit four consecutive quarters in negative territory despite a spike of corporate term deposits in June.
• Deposits in debt mutual funds grew again in June.

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