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The Conference Board publishes leading, coincident, and lagging indexes designed to signal peaks and troughs in the business cycle for major economies around the world.
LEI for Spain Unchanged in July
Latest Press Release
Updated: Friday, September 13, 2024
For Release 9:30 AM ET, September 12, 2024
Using the Composite Indexes: The Leading Economic Index (LEI) provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term. The Coincident Economic Index (CEI) provides an indication of the current state of the economy. Additional details are below.
The Conference Board Leading Economic Index®(LEI) for Spain was unchanged in July 2024 at 98.7 (2016=100), after improving by an upwardly revised 0.1 percent in June. In addition, the LEI grew by 0.6 percent over the six-month period between January and July 2024, more than reversing the 0.2 percent contraction over the previous six-month period between July 2023 and January 2024.
The Conference Board Coincident Economic Index® (CEI) for Spain was also unchanged in July 2024 at 112.5 (2016=100), following a 0.1 percent increase in June. The CEI grew by 0.8 percent over the six-month period from January to July 2024, after also increasing by 0.8 percent over the previous six-month period.
“The LEI for Spain was unchanged in July, at the highest reading since June 2023,” said Allen Li, Associate Economist at The Conference Board. “Despite the pause, the Index remained on an uptrend. In the month, four of the six components of the LEI, including the three financial components, were positive. Out of the two negative components, the largest negative contribution came from job placements, which dropped in July despite an overall strengthening of the Spanish labor market thus far this year. Notwithstanding the July flat reading, the leading index remains on an upward trajectory and its year-over-year growth rate has continued to improve, breaking into positive territory for the first time since the beginning of 2022. After strengthening in the first half of 2024, the Conference Board expects Spain economic growth to continue in second half of the year, but perhaps at a more moderate pace.”
The next release is scheduled for Thursday, October 10, 2024, at 9:30 A.M. ET.
The Spain LEI was unchanged in July, but remains overall on an uptrend
In July, four of the six the components of the Spain LEI were positive
The trajectory of the Spain LEI continued to improve, suggesting positive growth momentum in the near term
About The Conference Board Leading Economic Index® (LEI) and Coincident Economic Index® (CEI) for Spain
The composite economic indexes are key elements in an analytic system designed to signal peaks and troughs in the business cycle. Comprised of multiple independent indicators, the indexes are constructed to summarize and reveal common turning points in the economy in a clearer and more convincing manner than any individual component.
The CEI reflects current economic conditions and is highly correlated with real GDP. The LEI is a predictive tool that anticipates—or “leads”—turning points in the business cycle by around three months.
The six components of Leading Economic Index® for Spain are:
- Capital Equipment Component of Industrial Production
- Spanish Contribution to Euro M2
- Spanish Equity Price Index
- Long Term Government Bond Yield (inverted)
- Order Books Survey
- Job Placement
The five components of the Coincident Economic Index® for Spain are:
- Final Consumption Expenditure
- Industrial Production (2010=100)
- Real Imports (3 month moving average)
- Retail Sales Survey
- Employment
To access data, please visit: https://data-central.conference-board.org/
About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What’s Ahead™. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. ConferenceBoard.org
