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In December 2023, 5,490 million dollars in remittances entered Mexico, which represented an increase of 2.1% compared to December 2022. With this data, the total income from remittances in the country during 2023 was 63,313 million dollars, that is, + 7.6% compared to the amount received of 58,868 million dollars in 2022.

In this release of our Regional Sectoral Outlook is set apart by the change of base year in August 2023 with an updated perspective of the sectoral and regional composition of the Mexican economy. During 2024, the GDP of Finance could grow the most (5.3%), followed by Management (5.3%) and Entertainment & Recreation (4.5%)

Facing one of the most devastating natural phenomena in the last decade, to estimate the economic aftermath requires two elements: 1) to understand the economic outlook in Guerrero state prior to Otis landfall; and 2) rely on empirical evidence…

In the month of September, Mexico received 5,613 million dollars in income from remittances, +11.4% in annual terms. Remittances have had a streak of 41 consecutive months with growth and have maintained a streak of five continuous months with …

Construction grows 10.5% in the second trimester of 2023, the impulse comes from Civil construction. Mortgage credit shows a contraction of 4.1% on number of mortgages and 8.6% on credit amount. The potential demand for affordable housings amou…

Economic growth through 2023 will be modest and driven by services. A drop in the secondary sector (mainly via Manufacturing) is anticipated due to the slowdown in the economy. Tourist entities lead growth.

98.9% of the remittances arrived in Mexico through electronic transfers, 95.5% came from the United States and 82.3% were paid in non-banking institutions. Jalisco, Michoacán and Guanajuato were the states that received the most remittances, each exceeding 5 billion dollars in 2022.

The GDP of Castille-La Mancha increased by 4.8% in 2022. We expect an increase of 1.1% in 2023 and 3.3% in 2024, which will allow the creation of 31 thousand jobs between 2022 and 2024.

Catalonia's GDP increased by 5.2% in 2022. We expect an increase of 1.5% in 2023 and 3.6% in 2024, which will allow the creation of 151 thousand jobs in the biennium.

The economy is more resilient than expected in 2022. In the first half of the year, due to domestic demand and tourism, and in the fourth quarter, due to exports and employment. In 2023 and 2024, external demand will contribute negatively, but …

Economic growth in 2023 will be modest and driven by services. A drop in the secondary sector (mainly via Manufacturing) is anticipated due to the general slowdown of the economy. Industrial and tourist entities recover first.

Cantabria's GDP grew by 5,3% in 2021. But the war in Ukraine and sanctions reduce growth expectations. Thus, Cantabrian GDP is expected to increase by 3,3% in 2022 and to slow down in 2023, when the increase will be 0,7%.