The Conference Board Leading Economic Index for the Euro Area was unchanged in July, standing at 104.8 (2004=100), following decreases of  0.2 percent in June and 0.3 percent in May.

Said Jean-Claude Manini, The Conference Board Senior Economist for Europe: "After falling for three consecutive months, the LEI for the Euro Area remained unchanged in July, as greater business pessimism in both manufacturing and services was offset by moderate improvements in financial indicators. It is questionable, however, whether financial indicators can continue to offset greater weakness in the non-financial sector. The leading indicators suggest that, following the moderate drop in Euro Area GDP during the second quarter, a further contraction in economic activity during the second half of the year is likely."

The Conference Board Coincident Economic Index for the Euro Area, which measures current economic activity, was unchanged in July. The index now stands at 101.9 (2004 = 100) according to preliminary estimates*. The CEI decreased 0.1 percent in June and increased 0.2 percent in May.