The Mexican economy declined in April for the first time this year, with the construction component of industrial production making the largest negative contribution, according to The Conference Board’s leading economic index for Mexico. However, the index's six-month growth rate has been fairly steady and most of its components have been strengthening in recent months.

The index declined 0.7 percent in April to a reading of 126.6 (2004=100) from March’s revised reading of 127.5, The Conference Board reported today.

The index rose 2.5 percent in the six-month period ending in April, up from the increase of 0.1 percent for the previous six months. Additionally, the strengths among the leading indicators have remained widespread in recent months, The Conference Board reported.

The coincident economic index for Mexico edged down 0.1 percent in April and stands at 123.0 (2004=100).