The Conference Board Leading Economic Index® (LEI) for Spain Increases

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Sep 15, 2010, 04:00 ET

BRUSSELS, Sept. 15 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Spain increased 0.4 percent in July to 108.6 (2004 = 100), following a 0.5 percent decline in June, and a 0.2 percent decline in May.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, was unchanged in July, remaining at 101.0 (2004 = 100), following a 0.2 percent increase in June, and a 0.2 percent increase in May.

The Conference Board LEI for Spain increased this month, but it has been generally declining since October 2009. Its six-month growth rate has been negative since February of this year amid widespread weakness among its components. With this month's increase, the leading economic index is 2.5 percent above its most recent trough in March 2009, but it is still 3.1 percent below its most recent peak in February 2008. At the same time, The Conference Board CEI for Spain has increased slightly in 2010, after remaining flat in the second half of 2009. Taken together, the recent behavior of the composite indexes suggests that the recovery is likely to remain weak in the near term.

About The Conference Board Leading Economic Index® (LEI) for Spain

The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading and coincident economic indexes are essentially composite averages of several individual leading or coincident indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.

The six components of The Conference Board Leading Economic Index^® for Spain include:

Capital Equipment Component of Industrial Production

Contribution to Euro M2

Stock Price Index

Long term Government Bond Yield

Order Books Survey

Job Placings

For more information including full press release and technical notes:

http://www.conference-board.org/data/bcicountry.cfm?cid=9

For more information about The Conference Board global business cycle indicators: http://www.conference-board.org/data/bci.cfm

About The Conference Board

The Conference Board is an independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.

SOURCE The Conference Board