A leading indicator of Eurozone's economic activity continued to rise in September, suggesting moderate positive growth for the economy in 2014, the Conference Board said Monday.
The leading economic index or LEI rose 0.5 percent from a month earlier in September to 109.6. This followed a 1 percent rise in August and a 0.9 percent increase in July.
"The improvement in the LEI has slowed somewhat in September, but the six-month average continues to strengthen," said Bart van Ark, Chief Economist at the Conference Board. "Both consumer and business confidence have rebounded notably in recent months, and may help stimulate retail sales in the upcoming holiday season."
"This suggests that while current economic conditions are still weak, there is good reason to believe that the Euro Area is past the bottom of the recession," the economist said, adding that a moderately positive growth rate of the Euro Area's GDP for 2014 seemed most likely.
The coincident economic index, which measures current economic activity, remained unchanged at 101.1 in September.
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