NEW YORK, March 16, 2011 /PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for Spain increased 0.9 percent in January to 107.7 (2004 = 100), following a 0.1 percent increase in December, and a 1.0 percent decline in November.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, was unchanged in January, remaining at 101.1 (2004 = 100), following a 0.1 percent increase in December and a 0.1 percent increase in November.
The Conference Board LEI for Spain increased sharply in January. As a result, its six-month change has improved somewhat, though the index has been generally declining for more than a year. Meanwhile, The Conference Board CEI for Spain has been essentially flat since the middle of 2009. It may be too soon to say that the downside risks to economic activity have diminished. However, the recent behavior of the composite indexes suggests that the economy is likely to improve somewhat in the near term, but will remain weak.
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
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
Jul to Jan
Leading Economic Index (LEI)
Coincident Economic Index (CEI)
n.a. Not available p Preliminary r Revised
Indexes equal 100 in 2004
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SOURCE The Conference Board