Are Philippine overseas remittances in trouble? (Business Mirror (Philippines))

THE news stories read something like this: Philippines’s remittances fell 0.6 percent in August, the first negative print since April 2003. This brings YTD [year-to-date] growth in remittances to 4.3 percent year-on-year, versus 5.8 percent in 2014. That prompted a flurry of commentary of the sort that we have heard repeatedly for at least a decade:…