Bueno: Spain's Leading Economic Index Rises

After two months in which there was no change, the Conference Board's index of leading economic indicators for Spain advanced 0.6% in October, putting it on a "moderately rising trend," the New York-based business research group reported last week. "Despite the pause in the leading index in August and September, the recent strength in the leading index has become more widespread," with Spain's inflation-adjusted annual GDP growth rate advancing to nearly 3% during the last two calendar quarters, the group stated. "The continued growth in the leading index suggests a slight improvement in the rate of economic growth going into 2004."

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