A leading economic indicator for the German economy fell at a faster rate in August, a report from the Conference Board showed Wednesday.
The Conference Board leading economic index, a measure of how the economy is likely to fare in the coming months, dropped 1 percent month-over-month in August following the 0.5 percent decline in July. In June, the index has decreased 0.4 percent.
Only two of the seven sub-indices increased in August. Consumer confidence decreased, contributing the most to the fall in the overall index. This was followed by declines in stock prices and new orders for investment goods.
The Conference Board's coincident index measuring current economic activity fell 0.3 percent in August after rising by 0.2 percent in July. In June, the index had rebounded by 0.1 percent.
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