Global Leading Indicators

For Release 9:30 AM ET, October 10, 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 ticked down by 0.1% in August 2025 to 102.0 (2016=100), after a 0.4% increase in July (an upward revision). The Spain LEI expanded by 0.5% over the six-month period between February and August 2025, less than a half of the 1.1% growth over the previous six-month period, between August 2024 and February 2025.

The Conference Board Coincident Economic Index^® (CEI) for Spain increased by 0.2% in August 2025 to 117.2 (2016=100) after gaining 0.3% in July. Overall, the CEI expanded by 1.8% over the six-month period between February and August 2025, a continuation of the 1.8% increase over the previous six-month period.

“The LEI for Spain ticked down in August after a substantial gain in July,” said Allen Li, Associate Economist at The Conference Board. “In the month, the order books and job placement components weighed on the Index along with long-term government bond yields. However, latest developments indicate that these components should recover in the near-term, including the recent credit rating upgrade from global agencies. Over the past six months, most components of the Index have been in positive territory and improving. Overall, the Spain LEI suggests that the economy will continue to expand in 2025 and into 2026. Noting potentially easing headwinds in trade uncertainty, The Conference Board currently expects the Spanish GDP to grow by 2.9% in 2025, upgraded from earlier forecast of 2.7%, and by 2.2% in 2026.”

The next release is scheduled for Monday, November 10, 2025, at 9:30 A.M. ET.