Global Economic Outlook

For Release 10:30 AM ET, February 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 rose slightly by 0.1% in December 2024 to 100.8 (2016=100), after remaining unchanged in November. Overall, the LEI expanded by 0.3% over the second half of 2024, a slower pace than the 0.7% growth over the first half of 2024.

The Conference Board Coincident Economic Index^® (CEI) for Spain rose by 0.4% in December 2024 to 114.5 (2016=100) after a 0.1% increase in November. The CEI expanded by 1.5% over the second half of 2024, continuing the 1.3% improvement over the first half of 2024.

“The LEI for Spain improved in December, back to the two-year high reached in September,” said Allen Li, Associate Economist at The Conference Board. “The components of LEI ended the year on a generally positive note for the Spanish economy. Financial components of the Index generally showed steady positive contributions during the second half of the year. Non-financial components generally trailed in the same period, but order books and job placements, which had contributed negatively in previous months, showed a clear improvement in December. The annual growth trajectory of the Spain LEI, despite showing less upward momentum, still suggests continued tailwinds into 2025. After growing by 3.2% in 2024, the Conference Board expects the Spanish economy to slow somewhat alongside overall Euro Area weakness, but to continue to outperform its peers in the region.”

The next release is scheduled for Wednesday, March 12, 2025, at 9:30 A.M. ET.