The Conference Board Leading Economic Index® (LEI) for the Euro Area decreased 0.6 percent in August to 111.8 (2004=100), following a 0.3 percent increase in July and no change in June.
"August's sharp decline in the Leading Economic Index was driven by falling business expectations in manufacturing and services alongside depressed consumer confidence, which has become increasingly persistent," said Bert Colijn, Senior Economist at The Conference Board. "An already stalling European economy, now projected to grow less than 1.0 percent in 2014, has been even further battered by ongoing uncertainty in the region, and is unlikely to gather any momentum through the remainder of 2014."
The Conference Board Coincident Economic Index® (CEI) for the Euro Area, which measures current economic activity, increased 0.1 percent in August, according to preliminary estimates. The index now stands at 101.8* (2004 = 100). The CEI increased 0.1 percent in both July and June.