Recent improvement in both the leading economic index and the coincident economic index in Mexico suggests that the rate of economic expansion will likely pick up in the coming months, according to The Conference Board.

The organization reported its leading economic index for Mexico rose in May for the second consecutive month. The leading index rose 0.7 percent in May and now stands at 122.7 (2004=100). The leading index rose 0.8 percent in April and edged down 0.1 percent in March.

Although the six-month change in the index through May remains negative, decreasing 0.8 percent, the rate of decline has been easing rapidly from earlier this year, according to The Conference Board. Additionally, the rate of growth in the coincident economic index continues to pick up, with widespread strengths among its components.

The CEI rose 0.4 percent in May and now stands at 124.2 (2004=100). All three components that make up The Conference Board CEI for Mexico — the number of people employed, industrial production and retail sales — increased in May.