The Conference Board Leading Economic Index (LEI) for the Euro Area decreased 0.3 percent in March, falling to 105.0 (2004=100), following increases of 0.8 percent in February and 1.0 percent in January.

Said Jean-Claude Manini, The Conference Board Senior Economist for Europe: "The LEI for the Euro Area fell slightly in March after three consecutive gains. The waning influence of Long-Term Refinancing Operations on financial markets and weakening confidence in the manufacturing sector dragged the index down in March. However, economic activity in the Euro Area is still expected to return to a moderate expansion in the near term, even as austerity measures are taking their toll on domestic demand."

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