The Conference Board Leading Economic Index® (LEI) for Spain Increases
NEW YORK, Nov. 14, 2012 /PRNewswire/ — The Conference Board Leading Economic Index® (LEI) for Spain increased 0.3 percent in September to 102.1 (2004 = 100), following a 0.1 percent decline in August, and a 0.5 percent decline in July.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, declined 0.6 percent in September to 96.6 (2004 = 100), following a 0.2 percent increase in August, and a 0.2 percent decline in July.
The LEI for Spain increased this month after having been relatively flat the past four months. However, it is too soon to tell if this represents a departure from its long-term downtrend which started in February 2011. The CEI for Spain resumed its decline in September, having fallen steadily since its April 2011 peak. Though the performance of the LEI has improved this month, the recent behavior of the composite indexes still suggests that the current contraction in the Spanish economy will 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
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 ---- Jul Aug Sep Mar to Sep Leading Economic Index (LEI) 101.9 101.8 102.1 Percent Change -0.5 -0.1 0.3 -2.1 Diffusion 33.3 58.3 50.0 16.7 Coincident Economic Index (CEI) 97.0 p 97.2 p 96.6 p Percent Change -0.2 p 0.2 p -0.6 p -1.5 p Diffusion 20.0 40.0 20.0 0.0 n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved
SOURCE The Conference Board