Overseas Mexican workers’ money transfers to their families at home fell at a record pace in January as a US housing slump squeezes migrants’ employment. Remittances, the second-biggest source of dollar flows into Mexico after oil exports, fell 5.9 percent from a year earlier to USD 1.65 billion in January, the central bank said March 5. It was the biggest decline since Banco de Mexico began tracking the data in 1995. The decrease threatens to crimp spending by Mexican families, and mirrors the weakness in the top industry for Mexicans abroad, U.S. construction. (Bloomberg)

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