The Conference Board Leading Economic Index® (LEI) for Spain increased 0.4 percent in May to 106.7 (2004 = 100), following a 0.1 percent increase in April, and a 0.1 percent increase in March.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, increased 0.2 percent in May to 94.6 (2004 = 100), following a 0.1 percent increase in April, and a 0.3 percent increase in March.
The LEI for Spain has been on a slow upward trend over the past year, but its six-month growth has moderated in recent months. Meanwhile, the CEI has improved slightly in recent months, and as a result its six-month growth rate is higher than it was six months ago. Taken together, the recent behavior of the composite indexes suggests that the modest ongoing economic recovery should continue, but the pace is unlikely to accelerate in the near term.