Leading Index Rise For Spain In July

A leading indicator of the Spanish economy rose for the first time since December 2009 in July, suggesting growth may pick up in the coming months.

The Conference Board leading economic index for Spain rose 0.4% after falling 0.5% in June. Positive contributions to the indicator from the Spanish equity price index, the inverted long-term bond yield and the Spanish contribution to eurozone money supply.

Meanwhile, the coincident index, which is a measure of current economic activity, was unchanged in July. This follows a 0.2% increase in June.