Mexico's Economic Activity Unlikely To Accelerate In Early 2014

(RTTNews) - The continued negative growth in the leading economic index in recent months suggests that Mexico's economic activity rate is unlikely to accelerate in early 2014, the Conference Board said Friday.

The leading economic index dropped 0.1 percent each in November and October. Its six-month growth rate remained in negative territory. Large declines in oil prices and net insufficient inventories more than offset positive contributions from the construction component of industrial production and stock prices, it said.

The coincident economic index, a measure of current economic activity, increased 0.5 percent, slightly faster than the 0.2 percent expansion for the previous six months.

Meanwhile, real GDP grew by 3.4 percent in the third quarter, up from the contraction of 2.2 percent in the second quarter of 2013, the conference board noted.