Economic activity is unlikely to improve in Mexico this year, according to The Conference Board.

The Conference Board’s leading economic index for Mexico fell sharply in August for the fifth consecutive month. As a result, the six-month change in the leading economic index remains negative, although the rate of decline is not as steep as in the beginning of the year. The leading economic index for Mexico continues on a downward trend, suggesting that Mexico’s economic activity is unlikely to improve this year.

The leading economic index for Mexico fell 1.5% to 98.5 (2010=100) in August. This follows declines of 1.1% in July and 0.8% in June, based on revised data. During the six-month span through August, the index fell 2.7%.

Meanwhile, the six-month growth rate of The Conference Board’s coincident economic index for Mexico, a measure of current economic activity, remains relatively steady at 1.5%. The coincident economic index for Mexico rose 0.3% in August and now stands at 116.7 (2010=100). The coincident economic index rose 0.3% in both July and June, based on revised data. All three components that comprise The Conference Board’s coincident economic index for Mexico — the number of people employed, retail sales and industrial production — rose in August.