The Conference Board Leading Economic Index (LEI) for the Euro Area increased 0.8 percent in February, rising to 105.2 (2004=100), following increases of 1.1 percent in January and 0.5 percent in December.

Said Jean-Claude Manini, The Conference Board Senior Economist for Europe: "The LEI for the Euro Area rose for a third consecutive month in February, boosted once again by investor and business confidence. However, the recent volatility of business confidence highlights the fragility of the near-term improvement and in particular the weakness of domestic demand for the Euro Area as a whole. Economic activity may have contracted for a second consecutive quarter, but the likeliest scenario based on the LEI still suggests that subdued growth in economic activity will resume in the coming months."

The Conference Board Coincident Economic Index (CEI) for the Euro Area, which measures current economic activity, decreased 0.1 percent in February. The index stands at 102.4 (2004 = 100) according to preliminary estimates*. The CEI remained unchanged in January and decreased 0.1 percent in December.