LEI for Spain Unchanged in June

For Release 9:30 AM ET, August 9, 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 remained unchanged in June 2024 at 98.6 (2016=100), after improving by 0.1 percent in May. However, the LEI grew by 0.6 percent over the first half of 2024, nearly a full reversal from the 0.7 percent contraction over the second half of the last year.

The Conference Board Coincident Economic Index^® (CEI) for Spain increased by 0.3 percent in June 2024 to 112.7 (2016=100), following no change in May. Accordingly, the CEI grew by 1.3 percent over the first half of this year, a more than twice faster rate of growth than the 0.6 percent over second half of 2023.

"The LEI for Spain was unchanged in June at the highest reading in 2024" said Allen Li, Associate Economist at The Conference Board. "The components of the Spain LEI were mixed. Lower equity prices offset improvement in indicators of spending and investment. Nonetheless, the Index remains on an upward trajectory and its year-over-year growth rate has continued to improve. The Spanish economy experienced strong growth first half of the year. The LEI suggests that, in the second half of 2024, GDP growth may slow but should remain solid. Overall, the Conference Board expects Spain economic growth to continue to outpace other large Euro Area economies this year."

The next release is scheduled for Friday, September 13, 2024, at 9:30 A.M. ET.