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July 26, 2007
U.S. Remittances to Mexico Fall for the First Time in Eight Years
Cash sent to their home country by Mexicans living in the U.S. fell in May for the first time since 1999, and are up less than 2% year to date. Remittances from the United States to Mexico in 2006 rose 15%, so the slowdown is of dramatic proportions.
Analysts attribute this trend to the slowdown in new housing starts in the U.S. and tighter border measures, and an increase in deportations.
Reuters has the full story.
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