The Conference Board Leading Economic IndexforGermanydeclined 0.3 percent in July to 109.0 (2004 = 100), following a 0.2 percent decline in June, and a 0.5 percent increase in May.

At the same time,The Conference Board Coincident Economic IndexforGermany, a measure of current economic activity, increased 0.4 percent in July to 106.8 (2004 = 100), following a 0.2 percent increase in June, and a 0.2 percent increase in May.

The Conference Board LEI forGermanydecreased for the second consecutive month in July, amid widespread weaknesses among its components. As a result, the leading economic index is now slightly below its most recent peak inJuly 2007. Meanwhile, the growth trend in current economic conditions, as measured by The Conference Board CEI forGermany, has remained relatively stable this year. Taken together, the recent behavior of the composite indexes suggests that the economy should continue to expand in the near term, though perhaps at a modest pace.