Macro Analysis /
GlobalMexico: remittances – Sequentially low in March, but still with a positive trend
Remittances reached US$4,680.6 million, close to our call and consensus, and up 12.6% y/y
Sequentially, inflows dropped 2.1% m/m, surprising to the downside despite a strong US economy and labor market
We maintain our positive view for remittances, albeit with risks from inflation, the Fed’s hiking cycle, and migration
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
2 May 2022
Published byBanorte
