The Conference Board Leading Economic Index® (LEI) for Spain Declines
NEW YORK, July 11, 2012 /PRNewswire/ — The Conference Board Leading Economic Index® (LEI) for Spain declined 0.6 percent in May to 102.1 (2004 = 100), following a 1.5 percent decline in April, and a 0.9 percent decline in March.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, was unchanged in May, remaining at 97.7 (2004 = 100), following a 0.5 percent decline in April, and a 0.2 percent decline in March.
Both The Conference Board LEI and The Conference Board CEI have been on a downward trend for the past 12 months. In addition, during the past six months, a majority of the components have been declining in both indexes. Taken together, the recent behavior of the composite indexes suggests that the current contraction in the Spanish economy is very likely to continue in the near term and could even worsen.
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
For more information including full press release and technical notes:
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 2012 6-month ---- Mar Apr May Nov to May Leading Economic Index (LEI) 104.3 102.7 r 102.1 Percent Change -0.9 -1.5 r -0.6 -2.3 Diffusion .0 16.7 33.3 33.3 Coincident Economic Index (CEI) 98.2 p 97.7 p 97.7 p Percent Change -0.2 p -0.5 p 0.0 p -1.4 p Diffusion 40.0 20.0 60.0 40.0 n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved
SOURCE The Conference Board