Friday, October 30, 2009
Between Good and Bad News
Remittances sent to Mexico fell in September (compared with August) by $38 million, or about 5 percent of the total. This marks the third straight month of decline, and on the year, remittances are down 13 percent. However, the 5 percent drop suggests that the decline in remittances is slowing; the drop from June to July was almost $90 million, or around 10 percent. With the Christmas consumption surge and consequent economic jolt just around the corner, one can reasonably hope that the slide in remittances to Mexico may be coming to an end.