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Eurozone Leading Index Signal Modest Recovery For Rest Of Year: CB

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

A measure of future economic activity in Eurozone rose for the seventh successive month in June, signaling a modest recovery in economic activity through the balance of the year, the Conference Board said Monday.

The Conference Board's Leading Economic Index, or LEI, for the euro area increased 0.4 percent to 107.1, after a 0.3 percent rise in May. In April, the index rose by 0.5 percent.

"The LEI increased again in June, suggesting that the Euro Area's economy should remain on track for a modest recovery through the remainder of the year. Further declines in stock prices were offset by improved consumer expectations," said Ataman Ozyildirim, Director, Business Cycles and Growth Research at The Conference Board.

"June's weak industrial production figures might be reversed in coming months, but political volatility and financial risks could derail the Euro Area recovery, especially if the Greek crisis resurfaces as a concern for Europe as a whole."

The coincident index, which measures current economic activity, remained unchanged at 100.4 in June, after rising 0.1 percent each in May and April.

The leading economic index for the 6-month period from December to June,increased by 3.1 percent and the coincident economic index rose by 0.4 percent.

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