Remittances Sent Home by Mexicans Working Overseas - Another Negative Indicator

Jan.28.10 | About: iShares MSCI (EWW)

The Bank of Mexico regularly details the remittances flowing into Mexico each month from Mexicans working overseas. Since most of that country's emigrants -- legal or otherwise -- are based in the U.S., with no small number involved in construction and other economically-sensitive industries, the remittance data is viewed by many as a good indicator of how well our economy is doing. As the following chart shows, this particular series (like a host of others) offers little reason for optimism: