Mexico's leading indicators dropped in June

Mexico's Leading Economic Index dropped 1.8 percent in June, researchers at the Conference Board said Monday. The leading index has declined 0.3 percent in the six months prior to the end of June, which is a sharp slowdown from the six months prior to that, when the leading index rose 1.3 percent, the Conference Board said. In June, none of the six components that make up the leading index showed gains. The real exchange rate, net inventories, industrial and construction production, stock prices and crude oil prices measured by U.S. refinery purchases all declined while the final component, the central bank's federal funds rate, remained unchanged. The index, which uses 2004 as a base year for comparison with 2004 equal to 100, fell to 123.2 in June, the Conference Board said. The country's Coincident Index, which measures current conditions, declined 0.1 percent to 123. The index includes levels of the number of people employed, industrial production and retail sales. Of these, only the number of people employed showed gains in the month.