Improvement in the six-month change in the leading economic index and the steady growth in the coincident economic index suggests Mexico’s economic growth is likely to improve, albeit at a modest rate in the coming months, according to The Conference Board.

The leading economic index for Mexico was unchanged in April following a sharp increase in March. Large gains in oil and stock prices were offset by negative contributions from net inefficient inventories, the real exchange rate and the construction component of industrial production.

The Conference Board reported its leading economic index for Mexico held steady at 102.5 (2010=100) in April. The leading index rose 1.3% in March and fell 0.3% in February, based on revised data. During the six-month span through April, the index fell 2.7%, a reversal from the 0.9% increase over the previous six months. Additionally, the weaknesses among the leading indicators have remained more widespread than the strengths in recent months.

Meanwhile, the coincident economic index for Mexico, a measure of current economic activity, continues on a modest upward trend. The CEI edged up 0.3% in April and now stands at 115.7(2010=100). The CEI also increased 0.3% in both March and February. All of the 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 April.