Mexico's leading indicator up sharply

Mexico City -- Mexico's leading indicator for April, predicting future economic conditions, rose sharply, the Conference Board reported Monday.

In April, the index rose 2.3 percent to 173.5 with a strong gain in the price of oil, the Conference Board said.

The index has grown 2.8 percent through the last six months with about a 5.6 percent annual growth rate.

The coincident index, measuring current economic conditions, also grew, up 0.3 percent, a modest gain contributing to a 0.7 percent rate since October.

Mexico's gross domestic product grew at a 2.1 percent annual rate in the first quarter of 2008, a drop from 4.2 percent in the second half of 2007, the report said. But, recent trends in the Mexican economy point to continued expansion that may accelerate in the near term, the Conference Board said.

Copyright 2008 by United Press International.