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Leading Economic Index for the Euro Area unchanged in September

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Leading Economic Index for the Euro Area unchanged in September

The Conference Board Leading Economic Index for the Euro Area remained unchanged in September, following a 0.6% decrease in August and a 0.3% increase in July.

"The Leading Economic Index for the Euro Area was flat in September after a sharp decline in August," said Bert Colijn, Senior Economist at The Conference Board. "However, the majority of the LEI components have still not returned to positive territory, and the six-month growth rate dipped below zero for the first time since November 2012. The business and consumer confidence indicators have stopped declining further, so there is a chance that the recent deterioration in industrial production and manufacturing turnover will end in the near future. Even so, overall GDP growth is unlikely to strengthen much in the coming months. Meanwhile, it remains to be seen if last week's ECB stimulus hike will boost investors' confidence in financial markets."

"Overall GDP growth is unlikely to strengthen much in the coming months."

The Conference Board Coincident Economic Index for the Euro Area, which measures current economic activity, was unchanged in September, according to preliminary estimates. The CEI was unchanged in August and increased 0.1% in July.

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