Germany's leading economic indicator increased for the second straight month in January, data from a survey by the Conference Board showed Wednesday.
The leading economic index increased 0.3 percent from the previous month to 103.8 in January, faster than the 0.7 percent growth recorded in December.
The growth in the index reflected positive contributions from stock prices, new residential construction orders, and consumer confidence, which more than offset a negative contribution from new orders in investment goods industries.
At the same time, the coincident economic index, which measures the current economic situation, rose 0.3 percent to 106.8 during the month.
In the six months ended January, the leading leading index decreased 2.7 percent, while the coincident index grew 0.2 percent.
The agency said that there were downward revisions to the index between September and November as actual data for inventory change became available.
by RTT Staff Writer
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