Eurozone's leading economic index decreased in April, after improving in the previous month, data released by the Conference Board showed Friday.
The leading economic index decreased to 104.8 in April from 105.6 in March. In February, the reading was 105.5.
"Business confidence and stock prices were the main contributors to the decline, indicating that instability in the financial markets was increasing even before the Greek elections and Spanish bank bailout," Conference Board senior economist for Europe Jean-Claude Manini said. "The Euro Area economy has avoided a second consecutive quarter of contraction, but continued uncertainty may take a toll on domestic demand and increases the risk of a new downturn."
The coincident economic index, which measures the current situation, edged down to 102.3 during the month from 102.4 in the previous month.
In the six months ended April, the leading index gained 1.6 percent, while the coincident index edged down 0.4 percent, data showed.
by RTT Staff Writer
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