The Conference Board Leading Economic Index® (LEI) for Spain declined 0.4 percent in May to 103.1 (2010 = 100), following a 0.4 percent increase in April, and a 0.2 percent increase in March.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, increased 0.3 percent in May to 96.3 (2010 = 100), following a 0.3 percent increase in April, and a 0.5 percent increase in March.
In May, the LEI declined for the first time since last fall. As a result, its six-month growth has moderated over the past six months. Meanwhile, the CEI continues to increase at a modest pace, and its six-month growth rate has improved. Taken together, the recent behavior of the composite indexes suggests that the economy is likely to continue to advance into the fall, but the pace of growth may moderate somewhat.
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