A leading indicator of the Spanish economy declined for the second successive month in March, suggesting that the current contraction in the economy is likely to continue, even though it may ease in the coming months, data from a survey by the Conference Board showed Friday.
The leading economic index decreased 0.2 percent month-on-month to 104.4 in March, after falling 0.4 percent in February. In January the index recorded a 0.6 percent increase.
The largest negative contributions to the leading index came from the equity price index, the order books survey, and job placings.
At the same time, the coincident economic index, which measures the current economic situation, decreased 0.2 percent from the previous month to 93.7, following the previous month's 0.4 percent fall. The index has now recorded negative growth continuously for around two years.
During the six months ended March, however, the leading index increased 2.3 percent, while the coincident index decreased by 2.4 percent. On a long-term basis, the strengths among the leading indicators have remained more widespread than the weaknesses in recent months, the survey showed.
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