Global Leading Indicators

For Release 9:30 AM ET, October 10, 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 ticked down by 0.1% in August 2024 to 98.6 (2016=100), after a flat reading in July. The LEI grew by 0.3% over the six-month period between February and August 2024, at half the 0.6% rate of growth recorded over the previous six-month period, from August 2023 to February 2024.

The Conference Board Coincident Economic Index^® (CEI) for Spain was unchanged in August 2024 at 112.4 (2016=100) for the third consecutive month. As a result, the CEI grew by only 0.4% over the six-month period between February and August 2024, after increasing by 1.1% over the previous six-month period.

“The LEI for Spain ticked down in August, indicating that the uptrend in the Spain LEI that began in November 2023 has lost some momentum,” said Allen Li, Associate Economist at The Conference Board. “In August, the three financial components of the Spain LEI improved, but were offset by a weakening of the three nonfinancial components. On a six-month basis, the Index growth has also slowed; capital equipment production contributed negatively, potentially highlighting uncertainties in the business environment, while the contribution of the job placements that had supported the Index so far this year faded away. The Conference Board expects the Spain economy to continue growing in the near term supported by lower inflation and interest rates, but at a more moderate pace than in the first half of the year.”

The next release is scheduled for Friday, November 8, 2024, at 9:30 A.M. ET.