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

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Feb 17, 2012, 04:00 ET

NEW YORK, Feb. 17, 2012 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Spain increased 0.3 percent in December to 104.8 (2004 = 100), following a 1.0 percent decline in November, and a 0.3 percent decline in October.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, decreased 0.2 in December to 99.3 (2004 = 100), following a 0.3 percent decrease in November, and a 0.2 percent decrease in October.

The Conference Board LEI for Spain increased this month, after trending downward for most of 2011. Its six-month growth rate remains negative and is near its lowest level since 2009. Meanwhile, The Conference Board CEI for Spain has been mostly falling since April 2011, and its six-month growth rate reached its lowest level since August 2009. Taken together, although December's increase in the LEI could be the first sign of stabilization in its downward trend, the recent behavior of the composite indexes suggests that the current contraction in economic activity should continue 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.

Summary Table of Composite Indexes
	2011			6-month
	Oct	Nov	Dec	Jun to Dec

Leading Economic Index (LEI)	105.6	104.5 r	104.8
Percent Change	-0.3 r	-1.0 r	0.3	-2.2
Diffusion	50.0	16.7	50.0	8.3

Coincident Economic Index (CEI)	99.8 p	99.5 p	99.3 p
Percent Change	-0.2 p	-0.3 p	-0.2 p	-1.4 p
Diffusion	30.0	40.0	20.0	20.0

n.a. Not available p Preliminary r Revised
Indexes equal 100 in 2004
Source: The Conference Board All Rights Reserved