A leading indicator of the French economy decreased for the third consecutive month in June, hurt primarily by negative assessment of the employment situation and industrial new orders, data released by the Conference Board showed Friday.
The leading economic index declined 0.3 percent sequentially to 113 in June, after falling by 0.2 percent each in the previous two months.
The negative contributors to the leading index were new unemployment claims, industrial new orders, production expectations, the stock price index, and the ratio of the deflator of manufacturing value added to unit labor cost in manufacturing. The negative contributions came from the yield spread and building permits.
In the six-months ended June, the leading index increased by 0.3 percent. Weaknesses in the index have been more widespread in recent months than its strengths, the agency said.
Meanwhile, the coincident economic index, which measures the current situation, remained unchanged at 104.5 in June. The strengths and weaknesses among the coincident indicators were seen balanced in recent months.
by RTT Staff Writer
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