Global Business Cycle Indicators
Press Release Archive
Released: Friday, February 25, 2011
The Conference Board Leading Economic Index®(LEI) for the Euro Area increased 0.5 percent in January to 107.5 (2004 = 100), following a 0.7 percent increase in December and a 0.7 percent increase in November.
Said Jean-Claude Manini, The Conference Board senior economist for Europe: “Following two months of increases in the LEI, the slight deceleration in January shows that there is no guarantee this trend will continue in the coming months. In the near term, the LEI points to continuing moderate and balanced growth in the Euro Area. The prospect of fiscal consolidation and rising inflation is a strong reminder of the downside risks facing the Euro Area economy, particularly in the second half of the year.”
Meanwhile, The Conference Board Coincident Economic Index® (CEI) for the Euro Area, which measures current economic activity, remained unchanged in January. The index stands at 102.6 (2004 = 100) according to preliminary estimates*. The CEI remained unchanged in December, following an increase of 0.1 percent in November.
About The Conference Board Leading Economic Index® (LEI) for the Euro Area
The Conference Board Leading Economic Index® for the Euro Area was launched in January 2009. Plotted back to 1987, this index has successfully signaled turning points in the business cycle of the bloc of countries that now constitute the Euro Area, defined by the common currency zone.
The Conference Board currently produces leading economic indexes for ten other individual countries, including Australia, China, France, Germany, Japan, Korea, Mexico, Spain, the U.K. and the U.S.
Click here for further background information on The Conference Board Leading Economic Index for the Euro Area.
The eight components of The Conference Board Leading Economic Index® for the Euro Area include:
Economic Sentiment Index (source: European Commission DG-ECFIN)
Index of Residential Building Permits Granted (source: Eurostat)
Index of Capital Goods New Orders (source: Eurostat)
EURO STOXX® Index (source: STOXX Limited)
Money Supply (M2) (source: European Central Bank)
Interest Rate Spread (source: ECB)
Eurozone Manufacturing Purchasing Managers’ Index (source: Markit Economics)
Eurozone Service Sector Future Business Activity Expectations Index (source: Markit Economics)
To view The Conference Board calendar of 2011 indicator releases:
* Series in The Conference Board LEI for the Euro Area that are based on The Conference Board estimates are real money supply, residential building permits, and new orders of capital goods. All series in The Conference Board CEI for the Euro Area are based on The Conference Board estimates (employment, industrial production, retail trade, and manufacturing turnover).
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION.