The Conference Board Leading Economic Index® (LEI) for Spain Declined in August

Oct 14, 2011, 04:00 ET from The Conference Board

NEW YORK, Oct. 14, 2011 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Spain declined 0.2 percent in August to 105.7 (2004 = 100), following a 0.8 percent decrease in July, and a 0.3 percent decrease in June.

At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, increased 0.2 percent in August, to 101.6 (2004 = 100), following no change in July and a 0.1 percent decrease in June.

The Conference Board LEI for Spain continued to decline this month, its fifth decline in the past six months amid widespread weaknesses among its components. As a result, its six-month growth rate is now at its lowest level since 2009. Although preliminary data indicates The Conference Board CEI for Spain increased in August, with widespread strengths among its components, the gains were mainly due to household consumption* and employment*. Taken together, the recent behavior of the composite indexes and their components suggests that economic activity will remain slow, and could even get weaker, 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


2011


6-month


Jun


Jul


Aug


Feb to Aug

Leading Economic Index (LEI)

106.8


105.9

r

105.7



Percent Change

-0.3


-0.8

r

-0.2


-1.9

Diffusion

33.3


16.7


16.7


41.7









Coincident Economic Index (CEI)

101.4

p

101.4

p

101.6

p


Percent Change

-0.1

p

0.0

p

0.2

p

0.5

Diffusion

40.0


40.0


70.0


40.0









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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