The Conference Board Leading Economic Index® (LEI) for the Euro Area Increased in January
BRUSSELS, Feb. 27, 2013 /PRNewswire/ — The Conference Board Leading Economic Index(® )(LEI) for the Euro Area increased 1.0 percent in January and now stands at 106.2 (2004=100), after increasing 0.3 percent in December 2012 and 0.6 percent in November 2012.
“The Euro Area Leading Economic Index improved for the third month in a row, indicating that stabilizing financial conditions are having a positive effect on the economic outlook,” said Bert Colijn, Economist for Europe at The Conference Board. “However, while this month’s widespread improvement is encouraging, continued credit constraints and austerity measures remain stumbling blocks to a quick recovery.”
The Conference Board Coincident Economic Index(®)( )(CEI) for the Euro Area, which measures current economic activity, was unchanged in January, according to preliminary estimates. The index now stands at 101.3 (2004 = 100)*. The CEI decreased 0.1 percent in both December 2012 and November 2012.
About The Conference Board Leading Economic Index(® )(LEI) for the Euro Area
The Conference Board Leading Economic Index(®) for the Euro Area was launched in January 2009. Plotted back to 1987, this index has successfully signaled turning points in the business cycle of the bloc of countries that now constitute the Euro Area, defined by the common currency zone.
The Conference Board currently produces leading economic indexes for ten other individual countries, including Australia, China, France, Germany, Japan, Korea, Mexico, Spain, the U.K. and the U.S.
The seven components of The Conference Board Leading Economic Index(®) for the Euro Area include:
Economic Sentiment Index (source: European Commission DG-ECFIN)
Index of Residential Building Permits Granted (source: Eurostat)
EURO STOXX(®) Index (source: STOXX Limited)
Money Supply (M2) (source: European Central Bank)
Interest Rate Spread (source: European Central Bank)
Eurozone Manufacturing Purchasing Managers’ Index (source: Markit Economics)
Eurozone Service Sector Future Business Activity Expectations Index (source: Markit Economics)
To view The Conference Board calendar for 2013 indicator releases:
* Series in The Conference Board LEI for the Euro Area that are based on The Conference Board estimates are real money supply and residential building permits. All series in The Conference Board CEI for the Euro Area are based on The Conference Board estimates (employment, industrial production, retail trade, and manufacturing turnover).
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
Summary Table of Composite Indexes 2012 2013 6-month ---- ---- Nov Dec Jan Jul to Jan --- Leading Economic Index (LEI) 104.9 p 105.2 p 106.2 p Percent Change 0.6 p 0.3 p 1.0 p 1.6 p Diffusion 92.9 64.3 100.0 85.7 Coincident Economic Index (CEI) 101.4 p 101.3 p 101.3 p Percent Change -0.1 p -0.1 p 0.0 p -0.9 p Diffusion 0.0 50.0 62.5 0.0 n.a. Not available p Preliminary r Revised Indexes equal 100 in 2004 Source: The Conference Board All Rights Reserved
SOURCE The Conference Board