Euro Leading Index Remains on Upward Trend
BRUSSELS, July 26, 2010 -- "The Conference Board Leading Economic Index® (LEI) for the Euro Area increased 0.5 percent in June to 111.2 (2004 = 100), following a 0.3 percent decline in May and a 0.8 percent increase in April.
Said Jean-Claude Manini, The Conference Board senior economist for Europe: “After declining in May, the LEI for the Euro Area has picked up in June. While the recovery is unlikely to falter in the short-term, the pace of economic growth may ease somewhat. Confidence indicators have been the primary cause of the recent volatility in the LEI, which may affect the impact of austerity measures on growth in the Euro Area in the medium term.”
After increasing in June, The Conference Board LEI for the Euro Area is 16.4 percent above its March 2009 trough. Meanwhile, The Conference Board Coincident Economic Index® (CEI) for the Euro Area, which measures current economic activity, remained unchanged in June. The index stands at 102.4 (2004 = 100) according to preliminary estimates. It increased by 0.2 percent in May and decreased by 0.1 percent in April."