The Conference Board Leading Economic Index® (LEI) for Spain increased 0.8 percent in January to 106.0 (2004 = 100), following a 0.3 percent decline in December, and a 0.4 percent increase in November.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, increased 0.2 percent in January to 93.8 (2004 = 100), following a 0.1 percent decline in December, and a 0.2 percent increase in November.
The LEI for Spain improved in January, and has been, on average, steadily increasing over the past year. However, its six-month growth rate has slowed recently and the strengths among its components have become slightly less widespread. Meanwhile, the CEI for Spain been moderately improving in recent months, and as a result its six-month growth rate has improved slightly. Taken together, the recent behavior of the composite indexes suggests that the modest economic recovery is likely to continue in the first half of 2014.
