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