Global Leading Indicators

About the Leading Economic Index and the Coincident Economic Index:

The Leading Economic Index 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 provides an indication of the current state of the economy. Additional details are below.

The Conference Board Leading Economic Index^®(LEI) for Spain increased by 0.2 percent in March 2024 to 98.6 (2016=100), after a 0.2 percent increase in February. The LEI grew by 1.2 percent between September 2023 and March 2024, coming out of a contraction of 1.6 percent over the previous six-month period.

 The Conference Board Coincident Economic Index^® (CEI) for Spain also increased by 0.2 percent in March 2024 to 112.3 (2016=100), after 0.4 percent increase in February. As a result, the CEI grew by 1.4 percent over the six-month period between September 2023 and March 2024, after growing by 0.8 percent over the previous six-month period.

“The LEI for Spain continued to improve in March,” said Allen Li, Associate Economist at The Conference Board. “The increase in the LEI was mainly driven by stock prices and the order books survey. Even if the monthly gains have slowed in recent months, the Index remains on an upward trajectory. This suggests that, after the strong first quarter, the Spanish economy will remain on a solid momentum in the remainder of 2024.”

The Spain LEI increased in March

Financial components and the order books survey led the improvement in the LEI 

The Spain LEI’s longer term growth trajectory has steadily improved over the past year

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.

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