Germany's leading economic indicator decreased for the second consecutive month in May, hurt mainly by negative contributions from stock prices and new residential construction orders, data released by the Conference Board showed Tuesday.
The leading economic index dropped 0.1 percent to 104.3 in May, after decreasing 0.5 percent in the previous month.
The negative contributors to the leading index were were stock prices and new residential construction orders. The positive contributors were consumer confidence, new orders in investment goods industries, the yield spread, inventory change and gross enterprises and properties income.
Meanwhile, the coincident economic index, which measures the current situation, edged up 0.1 percent month-on-month to 107.2 during the month. This followed a 0.2 percent decrease in the previous month.
In the six months ending May, the leading index increased by 1.7 percent, while the coincident index increased 0.7 percent, data showed.
by RTT Staff Writer
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