Mexico’s rate of economic expansion is unlikely to pick up in coming months, according to The Conference Board.

The Conference Board’s leading economic index for Mexico rose in October and September’s reading was revised to a gain. Despite the gain, however, the six-month change in the leading economic index remains negative with a slightly deeper contraction than decline over the previous six months. Additionally, the weaknesses among the leading indicators remained more widespread than the strengths in recent months.

The leading economic index for Mexico rose 0.7% to 99.6 (2010=100) in October. This follows an increase of 0.5% in September and a 1.6% decline in August, based on revised data. During the six-month span through October, the index fell 2.9%.

During the six-month span through October, The Conference Board’s coincident economic index for Mexico, a measure of current economic activity, rose 1.7%.

The index rose 0.3% in October and now stands at 117.6. This follows increases of 0.3% in September and 0.5% in August, based on revised data. All three components that comprise The Conference Board’s coincident economic index for Mexico — the number of people employed, industrial production and retail sales — rose in October.