The Conference Board Leading Economic Index(LEI) for the Euro Area declined by 1.4 percent in August to 107.1 (2004 = 100), following a 0.1 percent increase in July and a 0.2 percent decrease in June.

SaidJean-Claude Manini, The Conference Board Senior Economist forEurope: "The LEI for the Euro Area fell sharply in August on the back of a severe deterioration in business confidence and stock prices which continued in September. The sovereign debt crisis and the uncertainty concerning its resolution are beginning to dampen current economic activity and the immediate outlook. The prospect of a banking crisis and increased fears of recession are self-reinforcing and an economic contraction cannot be ruled out in the very near term."

The Conference Board Coincident Economic Index(CEI) for the Euro Area, which measures current economic activity, remained unchanged in August. The index stands at 103.4 (2004 = 100) according to preliminary estimates*. The CEI increased 0.3 percent in July after remaining unchanged in June.