Macro Analysis /
Global

Family remittances –Inflows moderate in September, with less benefits in the US

  • Remittances stood at US$4,403 million in September (23.3% y/y), below consensus and our expectations

  • Seasonally adjusted, they fell 1.7% m/m, affected by a difficult base effect and less unemployment benefits in the US

  • We expect remittances to keep growing. We adjust our full-year forecast range higher, to US$49.5-50.5 billion

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
1 November 2021
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