From 2003 Jan to 2007 Jan, year over year growth between US housing starts and Mexico remittance has some unsurprising relationship:
Mexico Remittance: Only 7 out of the past 49 months are below or at 10%yoy growth. 5 out of those 7 happened since August 2006.
US housing starts: 20 out of the past 49 moths are below or at 0% yoy growth. 11 out of those 20 happened since 2006.
In terms of overlapping, 6 out of the 7months below 10% yoy remittance growth are associated with below 0% yoy growth of housing starts. The remaining 1 months was on Jan 2004 when Housing starts was also low at 3.13%yoy (Jan 2003 housing starts was 9.1%yoy, Jan 2005 housing starts was 11.8%.)
So, what will be the remittance going forward, what what will be the impact on the Mexican families live in Mexico?
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