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

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Dec 13, 2012, 04:00 ET

BRUSSELS, Dec. 13, 2012 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Spain increased 1.0 percent in October to 103.1 (2004 = 100), following a 0.3 percent increase in September, and a 0.1 percent decline in August.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, remained unchanged in October (2004 = 100). The index now stands at 96.3, following a 0.7 percent decline in September, and a 0.1 percent increase in August.

The LEI for Spain improved again this month, after being on a downward trend since February, and its six-month growth rate is in positive territory for the first time in more than a year. Though the CEI for Spain remained unchanged this month, it has been on a downward trend since its most recent peak in April 2011. Taken together, the recent behavior of the composite indexes suggests that the contraction in the Spanish economy may ease 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.

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Summary Table of Composite Indexes
	2012						6-month
	Aug		Sep		Oct		Apr to Oct
Leading Economic Index (LEI)	101.8		102.1		103.1
Percent Change	-0.1		0.3		1.0		0.4
Diffusion	66.7		50.0		100.0		83.3

Coincident Economic Index (CEI)	97.0	r	96.3	p	96.3	p
Percent Change	0.1	r	-0.7	p	0.0	p	-1.2	p
Diffusion	40.0		0.0		30.0		0.0

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