The Conference Board Leading Economic Index® (LEI) for Spain declined 0.2 percent in February to 106.0 (2004 = 100), following a 0.9 percent increase in January, and a 0.2 percent decline in December.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Spain, a measure of current economic activity, increased 0.2 percent in February to 94.1 (2004 = 100), following a 0.3 percent increase in January, and a 0.1 percent decline in December.
With the small decline in February, the six-month growth of the LEI has slowed moderately from early 2013. Meanwhile, the CEI has been gradually increasing in recent months, and consequently its six-month growth rate has improved. Taken together, the recent behavior of the composite indexes suggests that the modest economic recovery is likely to continue, but the pace of growth is unlikely to pick up in the near term.
