The Mexican economy will continue to expand, and the rate may pick up slightly in the near term, according to The Conference Board. The leading economic index for Mexico increased for the fourth consecutive month in March and its six-month growth rate has picked up significantly since the second half of 2012.

The index increased 0.7 percent in March to a reading of 127.9 (2004=100) from February’s revised reading of 127.0, The Conference Board reported today.

The index rose 3.4 percent in the six-month period ending in March, a large improvement from the 0.3 percent contraction for the previous six months. Additionally, the strengths among the leading indicators have become more widespread in recent months, The Conference Board reported.

The coincident economic index for Mexico edged up 0.2 percent in March and stands at 122.9 (2004=100).