A leading indicator of the Spanish economy decreased from the previous month in March, after rising modestly in the previous three months, data from a survey by the Conference Board showed Friday.
The leading economic index decreased 0.9 percent from the previous month to 104.3 in March. The latest drop followed three consecutive monthly increases.
All the six components of the leading index - order books survey, job placings, the Spanish equity price index, the Spanish contribution to Euro M2, the inverted long-term government bond yield and the capital equipment component of industrial production - contributed negatively to the headline index during the month.
At the same time, the coincident economic index, which measures the current situation, dropped 0.2 percent month-on-month to 98.1 in March.
In the six-month period ending March, the leading index declined by 1.5 percent, while the coincident index dropped by 1.8 percent, data showed.
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