A leading indicator of the Eurozone economy increased for the third consecutive month in February, led by investor and business confidence, data from a survey by the think-tank Conference Board showed Monday.
The Conference Board leading economic index for the euro area increased 0.8 percent to 105.2 in February, after rising 1.1 percent in January.
Meanwhile, the coincident index, which measures the current economic situation, declined 0.1 percent to 102.4 in February. The index was flat in January.
"The recent volatility of business confidence highlights the fragility of the near-term improvement and in particular the weakness of domestic demand for the Euro Area as a whole," The Conference Board Senior Economist for Europe Jean-Claude Manini said.
"Economic activity may have contracted for a second consecutive quarter, but the likeliest scenario based on the LEI still suggests that subdued growth in economic activity will resume in the coming months."
by RTT Staff Writer
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