U.S. construction slowdown hurts Mexico

Here’s one I didn’t expect, but makes perfect sense: the U.S. housing collapse is hurting the Mexican economy. The amount of money sent by Mexican workers, many of whom are in construction, to family in Mexico has fallen over the last two years. Remittances form an astounding 2.8 percent of the Mexican GDP.

Fewer jobs for Mexicans in the U.S. will keep some from crossing the border, but the tougher economic times may drive others north.

One Comment

  1. JWink
    Posted July 9, 2008 at 2:36 pm | Permalink

    Dan Voorhis: I’m confused by your last sentence above.

    Is “boarder” Spanish for one who hauls boards? Or were you thinking of someone who lives in a boarding house? Or did you mean “crossing the broad” in place of “crossing the boarder” … that could be trouble anywhere. Or were you possibly refering to the “border” or boundary between two states or countries?