As a result of strong oil and stock prices, the Conference Board's index of leading economic indicators for Mexico rose four-tenths of a percent in September, its fourth consecutive monthly gain. The index now stands at 156.2 (1990=100). Growth in the leading index has accelerated to an annual rate between 10% and 11% in recent months, the New York-based business research group says.
As the leading index has been gaining ground, inflation-adjusted GDP growth also has begun to rise, with a 5.4% annual growth rate in the second quarter of this year reversing a 2.5% rate of decline during the first quarter of 2005. "The continued strength of the leading index in recent months suggests that strong economic growth should persist in the near term," says the Conference Board.