The Conference Board Leading Economic Index(LEI) for the Euro Area decreased 0.2 percent in May to 108.8 (2004 = 100), following a 0.2 percent increase in April and a 0.5 percent decline in March.

SaidJean-Claude Manini, The Conference Board Senior Economist forEurope: "The LEI for the Euro Area fell for a second time in three months in May. This significant loss of momentum is partially due to temporary factors such as disruptions in the global supply chain that resulted from theMarch 11earthquake inJapan. Growth may be subdued in the very near term, but economic activity should continue to expand through the end of the year. The unfolding debt crisis is a reminder of persisting downside risks, but core economies – particularly inGermany– will continue to benefit from the accommodative monetary policy."

The Conference Board Coincident Economic Index(CEI) for the Euro Area, which measures current economic activity, declined 0.1 percent in May. The index stands at 103.0 (2004 = 100) according to preliminary estimates*. The CEI increased 0.3 percent in April, following a 0.2 percent decline in March.