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Eurozone Leading Index Rises Further In January

A leading indicator of the Eurozone economy increased for the second consecutive month in January, data from a survey by Conference Board showed Monday.

The leading economic index increased to 104.1 in January from 103.1 in December. In November, the reading was 102.7. Meanwhile, the coincident economic index, which measures the current situation, remained unchanged at 102.6 in January.

In the six months ended January, the leading index dropped 1.4 percent, while the coincident index edged down 0.6 percent, data showed.

"The LEI for the Euro Area grew strongly in January, its second consecutive increase after trending down through November 2011," Conference Board senior economist for Europe Jean-Claude Manini said. "Leading indicators show that business, consumer, and financial-market confidence has improved following the December EU summit and the start of the ECB's Longer-Term Refinancing Operations."

by RTTNews Staff Writer

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