A leading indicator of the German economy increased moderately in July, after falling for four consecutive months, indicating that economic activity will continue to expand in the near term, though at a slower rate, data from a survey by the Conference Board showed Friday.
The leading economic index edged up 0.1 percent from the previous month to 102.6 in July, recovering from decreases seen in the previous four months. The rebound in the index reflected large positive contributions from stock prices and new residential construction orders, which more than offset the negative contribution from consumer confidence.
The coincident economic index, which measures the current economic situation, moved up 0.1 percent sequentially to 107.2 during the month, with industrial production making the largest positive contribution.
During the six months ended July, the leading index decreased 1.6 percent, while the coincident index rose by 0.4 percent, data showed.
by RTT Staff Writer
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