• The Philippines’ overseas cash remittances rose more than economists expected in December.
• Overseas cash remittances rose 3.8% y/y (estimate +2.4%) in December versus +2.8% in November, according to the Bangko Sentral ng Pilipinas
  ** Estimates range +0.3% to +3.0%, 7 economists
• Overseas cash remittances rose to $3.3b from $2.719b in November
• Overseas cash remittances rose 2.9% y/y versus +2.8% in January to November
• Overseas cash remittances were $33.5b in January to December