The Conference Board Leading Economic Index® (LEI) for Spain Declines

Dec 14, 2010, 04:00 ET from The Conference Board

BRUSSELS, Dec. 14, 2010 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Spain declined 0.4 percent in October to 108.7 (2004 = 100), following a 0.1 percent decline in September, and a 0.6 percent increase in August.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, declined 0.2 percent in October to 99.6 (2004 = 100), following a 0.4 percent decline in September and a 0.4 percent decline in August.

The Conference Board LEI for Spain, which increased slightly during the third quarter, has resumed declining. As a result, its six-month growth rate has become slightly negative again.  Meanwhile, The Conference Board CEI for Spain has been decreasing since June, and its six-month growth rate is at its lowest since September 2009. Taken together, the recent behavior of the composite indexes suggests that economic activity is likely to remain weak 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

Job Placings




For more information including full press release and technical notes:

http://www.conference-board.org/data/bcicountry.cfm?cid=9

For more information about The Conference Board global business cycle indicators: http://www.conference-board.org/data/bci.cfm

About The Conference Board

The Conference Board is an independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.  www.conference-board.org.






Summary Table of Composite Indexes







2010

6-month


Aug

Sep

Oct

Apr to Oct






Leading Economic Index (LEI)

109.2 r

109.1 r

108.7


   Percent Change

0.6 r

-0.1

-0.4

-0.3

   Diffusion

66.7

41.7

33.3

66.7






Coincident Economic Index (CEI)

100.2 r

99.8 p

99.6 p


   Percent Change

-0.4 r

-0.4 p

-0.2 p

-1.2 p

   Diffusion

10.0

0.0

.0

0.0






n.a. Not available    p Preliminary    r Revised

Indexes equal 100 in 2004

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SOURCE The Conference Board



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