Mexico’s economic expansion should continue into early 2015, but the growth pace is unlikely to accelerate, according to The Conference Board.

The leading economic index for Mexico fell slightly in November for the fourth consecutive month. Despite some improvement in the construction sector, oil prices continued to fall and contributed largely to the decline in the index this month.

The Conference Board reported its leading economic index for Mexico edged down 0.1 percent in November and now stands at 105.6 (2010=100). The leading index fell 0.4 percent in October and 0.7 percent in September, based on revised data. However, during the six-month span through November, the index increased 0.1 percent, an improvement from the 0.1 percent decline for the previous six months, according to The Conference Board.

Meanwhile, the coincident economic index for Mexico, a measure of current economic activity, continues on a slightly upward trend. The CEI edged up 0.2 percent in November and now stands at 114.1 (2010=100). Two of the three components that make up The Conference Board coincident economic index for Mexico — the number of people employed and industrial production — rose in November; retail sales remained unchanged.

This month’s release incorporates annual benchmark revisions to the composite economic indexes, which bring them up-to-date with revisions in the source data. Also, with this benchmark revision, the base year of the composite indexes was changed to 2010 = 100 from 2004 = 100.