Euro Area CB Leading Index Rises In May

(RTTNews) - Euro area's leading index, measuring perceptions on future economic conditions, increased in May after declining in April, results of a survey by the Conference Board revealed Thursday.

The Conference Board Leading Economic Index rose 0.3 percent monthly to 111.7 in May. This reversed the 0.2 percent decline in April.

"May's moderate increase in the Leading Economic Index—alongside a slowdown in its six-month growth rate—suggest that the Euro Area will continue on the path of a very modest economic recovery," Bert Colijn, Senior Economist at The Conference Board, commented.

"Service sector expectations and confidence only grew modestly in May, while the manufacturing PMI contributed negatively to the index."

The Conference Board Coincident Economic Index, a measure of current economic activity, remained stable in May at 101.5. In April, the index rose 0.1 percent.