The Conference Board Leading Economic Index (LEI) for the Euro Area decreased 0.3 percent in June, falling to 104.8 (2004=100), following decreases of  0.3 percent in May and 1.0 percent in April.

Said Jean-Claude Manini, The Conference Board Senior Economist for Europe: "The LEI for the Euro Area declined in June for a third consecutive month and has returned to where it was six months ago. The pace of contraction in the manufacturing sector has stabilized, but growth in industrial production remains very weak, even in core countries like Germany. Moreover, the pessimism about the prospects for recovery in the Euro Area economy has spread to the services sector where confidence has plunged. The leading indicators are consistent with a picture of very slow growth or even economic contraction for the remainder of the year, with risks tilted to the downside given the high level of uncertainty about the resolution to the current financial crisis."

The Conference Board Coincident Economic Index (CEI) for the Euro Area, which measures current economic activity, was unchanged in June. The index now stands at 101.9 (2004 = 100) according to preliminary estimates*. The CEI remained unchanged in May and decreased 0.3 percent in April.