Global Leading Indicators

For Release 9:30 AM ET, August 8, 2025

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 was unchanged in June 2025 at 101.6 (2016=100), after a 0.3% rise in May. Over the first half of 2025, the LEI for Spain increased by 0.4%, a slowdown from the 0.7% growth over the second half of 2024.

The Conference Board Coincident Economic Index^® (CEI) for Spain rose by 0.3% in June 2025 to 116.7 (2016=100) after a similar 0.3% gains in May and April. As a result, the CEI expanded by 1.8% in the first half of 2025, accelerating from a 1.6% increase over the previous six-month period.

“The LEI for Spain held steady in June,” said Allen Li, Associate Economist at The Conference Board. “The components of the Spain LEI were mixed and a deceleration of monetary expansion and plateauing equity prices offset positive contributions job placements, order books and long-term bonds. Meanwhile, the capital equipment component remained weak, suggesting lagging investment in some sectors. Over the past six months, the components of the Index were mostly in positive territory or at least on an improvement trend. Overall, the positive trajectory of the Spain LEI indicates that the economy will continue to expand in 2025. The Conference Board currently expects the Spanish GDP to grow by about 2½ % in 2025, after 3.2% in 2024, but also notes potential headwinds associated with political, fiscal, and trade uncertainty.”

The next release is scheduled for Thursday, September 11, 2025, at 9:30 A.M. ET.