The Conference Board Leading Economic Index for the Euro Area decreased 0.4 percent in September, and now stands at 104.9 (2004=100), after increasing 0.5 percent in August and 0.1 percent in July.

"The Euro Area LEI declined in September for the fourth time in six months, further suggesting that a sustained recovery is unlikely in the near term," says Bert Colijn, The Conference Board Economist forEurope. "Expectations in the service sector declined and point to contraction, like manufacturing confidence, although the latter seems to have bottomed out somewhat. Overall sentiment about the European economy remains negative, despite a strengthening in equity markets since midyear. Optimism based on measures designed to contain the financial crisis are not translating into a positive outlook for the European economy."

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