The Day at a Glance | May 3 2023

*Remittances exceeded expectations in April. 

*In Mexico, the manufacturing PMI logged a 0.1 point increase with respect to the previous month and set at 51.1 points in April. 

*IMEF indicators recorded mixed figures: The manufacturing index returned to expansionary territory (50.6 points; +1.0); while the non-manufacturing index receded to 52.2 points (-1.3) in April. 

*This morning, the INEGI made its cyclical indicators public: The one corresponding to February increased 0.09 points and set at 101, while March`s leading figure logged a  0.12 point variation and set at 100.1 points. 

*In the US, the private sector created 296 thousand new jobs in April, widely exceeding the 150 thousand figure estimate. 

*Unemployment in the Eurozone dropped to 6.5% in March. 

*Russia accused Ukraine of launching drone attacks against the Kremlin. 

*The FED will make its monetary policy decision public today at noon. 

Economic environment

Remittances set at 5,193.8 million dollars in March. This reading is the fourth highest ever and reflects a 10.68% annual increase. The main factor that led to said increase was a higher number of transactions (10.6%), setting at 13.19 million; meanwhile, the average amount of money sent virtually remained unchanged (it increased a mere 0.3%), and set at 394.00 dollars per transaction (vs 393.00 prev.).