The Conference Board Leading Economic Index® (LEI) for Mexico declined 1.3 percent in October to 122.9 (2004 = 100), following a 0.5 percent decline in September, and a 0.5 percent decline in August.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Mexico, a measure of current economic activity, increased 0.2 percent in October to 125.9 (2004 = 100), following a 0.3 percent increase in September, and a 0.3 percent increase in August.
The LEI for Mexico has declined in the past three consecutive months, as falling oil prices, higher levels of inventories, and devaluation of the Mexican peso continue to drag down the index. As a result, the six-month growth rate of the LEI has moderated compared to the first half of the year. Meanwhile, the CEI for Mexico continues on a slightly upward trend. Despite the steady growth in the CEI, the recent slowing in the rate of growth in the LEI, and persistent weakness in oil prices, suggest that although Mexico's economic expansion should continue into early 2015, the pace of growth is unlikely to accelerate.
