The Conference Board Leading Economic Index® (LEI) for Germany declined 1.0 percent in August to 107.7 (2004 = 100), following a 0.5 percent decline in July, and a 0.4 percent decline in June.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Germany, a measure of current economic activity, decline 0.3 percent in August to 108.3 (2004 = 100), following a 0.2 percent increase in July, and a 0.1 percent increase in June.
The decline in the LEI in August was its third consecutive decline and the largest monthly drop since the autumn of 2011. As a result its six-month growth rate has now fallen deeper into negative territory. Meanwhile, the CEI also declined in August, and its six-month growth rate turned slightly negative. Taken together, the recent behavior of the composite indexes suggests that economic activity will likely remain on a slow to slightly negative growth path with continued downside risks in the near term.