Spain's Leading Index Gains, Germany's Doesn't

ByJohn S. McClenahen The leading economic index for Spain, compiled by the Conference Board, increased 0.4% in July, after no change in June and a 0.1% decline in May. The index now stands at 136.0 (1990=100). "July's increase makes it clearer that the leading index is still rising, but its growth has slowed to a 1% to 2% annual rate from 5% to 6% earlier this year," the New York-based business research group said when it reported July's index increase on Sept. 23. Spain's European neighbor Germany did not fare as well. The Conference Board's leading index for Germany was unchanged in July -- although upward revisions for the four previous months suggest the index's growth rate is not as weak as was reported in August. The Conference Board's leading economic index for Germany now stands at 102.6 (1990=100).