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SOURCE The Conference Board
BRUSSELS, Sept. 26, 2013/PRNewswire/ -- The Conference Board Leading Economic Index® (LEI) for the Euro Area increased 0.9 percent in August and now stands at 108.9 (2004=100), after increasing 0.8 percent in July and 0.6 percent in June.
"The strong increase in the LEI for the third month in a row suggests a brightening outlook for the Euro Area," says Bert Colijn, economist for Europe at The Conference Board. "Improvements in business and consumer sentiment were the major drivers, while continued financial stability in the Euro Area is also helping to sustain the recovery. However, economic growth is likely to remain slow in the coming months due to low investment, high unemployment, and uncertainty about growth in export markets."
The Conference Board Coincident Economic Index®(CEI) for the Euro Area, which measures current economic activity, remained unchanged in August, according to preliminary estimates. The index now stands at 101.0 (2004 = 100)*. The CEI declined 0.1 percent in July and was unchanged in June.
About The Conference Board Leading Economic Index® (LEI) for the Euro Area The Conference Board Leading Economic Index® for the Euro Area was launched in January 2009. Plotted back to 1987, this index has successfully signaled turning points in the business cycle of the bloc of countries that now constitute the Euro Area, defined by the common currency zone.
The Conference Board currently produces leading economic indexes for ten other individual countries, including Australia, China, France, Germany, Japan, Korea, Mexico, Spain, the U.K. and the U.S.
The seven components of The Conference Board Leading Economic Index® for the Euro Area include:
Economic Sentiment Index (source: European Commission DG-ECFIN) Index of Residential Building Permits Granted (source: Eurostat) EURO STOXX® Index (source: STOXX Limited) Money Supply (M2) (source: European Central Bank) Interest Rate Spread (source: European Central Bank) Eurozone Manufacturing Purchasing Managers' Index (source: Markit Economics) Eurozone Service Sector Future Business Activity Expectations Index (source: Markit Economics)
* Series in The Conference Board LEI for the Euro Area that are based on The Conference Board estimates are real money supply and residential building permits. All series in The Conference Board CEI for the Euro Area are based on The Conference Board estimates (employment, industrial production, retail trade, and manufacturing turnover).
About The Conference Board The Conference Board is a global, independent business membershipand research association working in the public interest. Our mission is unique: To provide the world's leading organizationswith the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.