The Conference Board Leading Economic Index® (LEI) for Mexico declined 2.0 percent in January to 100.6 (2010 = 100), following a 3.5 percent decrease in December, and a 1.0 percent increase in November.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Mexico, a measure of current economic activity, increased 0.3 percent in January to 114.6 (2010 = 100), following a 0.2 percent increase in December, and a 0.3 percent increase in November.
The LEI for Mexico fell again in January and has declined in five of the last six months. As a result, its six-month growth rate has moved deeper into negative territory. While much of the decline in the LEI has been driven by falling oil prices, the financial sector has begun showing signs of weakness in the past two months. Meanwhile, the moderate upward trend in the CEI for Mexico continued through January. Despite the steady improvement in the CEI, the deceleration in the LEI's growth in recent months points to increasing downside pressure on Mexico's economy in the coming months.