The Conference Board Leading Economic Index (LEI) for the Euro Area decreased 0.4 percent in March and now stands at 105.8 (2004=100), after increasing 0.1 percent in February and increasing 1.4 percent in January.

"The decline in the LEI suggests that the Euro Area economy remains very weak and a recovery in the coming months continues to be unlikely," says Bert Colijn , Economist for Europe at The Conference Board. "Business and consumer confidence have dropped as a result of political instability in Italy, the Cypriot bailout process, and increased concerns about the negative growth impact of the austerity programs in various countries. However, financial stress remains low which suggests that stability inEurope's financial system is still more solid than a year ago."

The Conference Board Coincident Economic Index (CEI) for the Euro Area, which measures current economic activity, decreased 0.1 percent in March, according to preliminary estimates. The index now stands at 101.0 (2004 = 100)*. The CEI was unchanged in February and decreased 0.1 percent in January.