The Conference Board Leading Economic Index (LEI) for the Euro Area increased 0.6 percent in August, to 105.3 (2004=100), after remaining unchanged in July and declining 0.2 percent in June.

"In August, the LEI for the Euro Area rose for the first time in six months, fueled by good stock market performance and improved business confidence. However, it seems too early to interpret this as a sign of stabilization, let alone as a sign of a sustainable recovery," says Jean-Claude Manini, The Conference Board Senior Economist for Europe. "Production-related indicators remained in contraction territory and consumer confidence declined on rising unemployment fears. If European decision makers can maintain the momentum towards greater financial and fiscal stabilization, then these first signs of better business confidence may help to support somewhat stronger economic conditions later in the year or early 2013."

The Conference Board Coincident Economic Index (CEI) for the Euro Area, which measures current economic activity, increased 0.1 percent in August. The index now stands at 102.2 (2004 = 100) according to preliminary estimates*. The CEI was unchanged in July and decreased 0.1 percent in June.