Global Leading Indicators

The Conference Board Leading Economic Index^®(LEI) for Spain remained unchanged in April 2022 at 99.8 (2016=100), following a 0.5 percent decrease in March 2022. The LEI declined by 0.2 percent in the six-month period from October 2021 to April 2022.

The Conference Board Coincident Economic Index^® (CEI) for Spain increased by 0.4 percent in April 2022 to 107.6 (2016=100), after rising by 0.2 percent in March 2022. The CEI grew by 2.0 percent in the six-month period between October 2021 and April 2022.

“The LEI for Spain remained flat in April after three consecutive declines,” said Ataman Ozyildirim, Senior Director for Economics at The Conference Board. “While the improvement was widespread among the index components, rising long term bond yields, reflecting expectations of tighter monetary policy, offset these gains. The essentially flat trajectory of the LEI for Spain since last year suggests recent economic growth rates will be difficult to sustain in the near term.”

The Spain LEI was flat in April after three consecutive monthly declines suggesting economic growth could slow in the near term 

The LEI remained essentially flat since last year, suggesting the economy lost growth momentum and could be more vulnerable to recession risks 

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 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 is highly correlated with real GDP. The LEI is a predictive variable that anticipates (or “leads”) turning points in the business cycle by 3 months. Shaded areas denote recession periods or economic contractions. The dates above the shaded areas show the chronology of peaks and troughs in the business cycle.

The six components of The Conference Board Leading Economic Index^® for Spain include: Capital Equipment, Component of Industrial Production, Spanish Contribution to Euro M2, Spanish Equity Price Index, Long Term Government Bond Yield (inverted), Order Books Survey , and Job Placement.

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