Publications

Current loans growth to non-financial private sector in January 2026 reached the lowest point since 2021 (1.8% in real anual terms), as the business loan portfolio had a negative growth contribution. Banking deposits real anual growth came at 0.9% influenced by exchange rate appreciation.

The BBVA Research Big Data Consumption Indicator reported a (-)3.5% MoM decline in February (real, sa), with contractions in both goods and services segments.

The impacts of climate change on people are not uniform across the population. Gaps in access to income, assets, and decision-making power mean that the effects of climate change can amplify existing structural inequalities, including those related to gender.

This year, the trade agreement between Mexico, the United States, and Canada (USMCA) enters its review process. It is worth recalling that the agreement is in force until 2036, but it includes a review mechanism beginning July 1 that could lead to different scenarios.

Remittances to Mexico began 2026 with decline. In January, they totaled 4,594 million dollars, representing a 1.4% year-on-year decrease. Although the average amount per transfer increased to $401 (+3.9%), the number of transactions fell to 11.5 million, a 5.2% year-on-year decrease.

This note contains various indicators of labor poverty as of the end of the fourth quarter of 2025 (based on the latest figures updated by Inegi). Labor poverty is defined as the percentage of the population whose per capita labor income is insufficient to cover the cost of the basic food basket.

The BBVA Research Multidimensional Manufacturing Indicator (MMI BBVA Research) grew 5.0% YoY in January, the highest figure since October 2022, pointing to a recovery in the sector this year.