The Conference Board Leading Economic Index (LEI) for the Euro Area decreased 0.8 percent in April, falling to 104.8 (2004=100), following increases of 0.1 percent in March and 0.8 percent in February.

Said Jean-Claude Manini, The Conference Board Senior Economist for Europe: "The LEI for the Euro Area fell sharply in April, after growing strongly between December and February. Business confidence and stock prices were the main contributors to the decline, indicating that instability in the financial markets was increasing even before the Greek elections and Spanish bank bailout. The Euro Area economy has avoided a second consecutive quarter of contraction, but continued uncertainty may take a toll on domestic demand and increases the risk of a new downturn."

The Conference Board Coincident Economic Index (CEI) for the Euro Area, which measures current economic activity, decreased 0.1 percent in April. The index now stands at 102.3 (2004 = 100) according to preliminary estimates*. The CEI remained unchanged in March and February.