facebook
twitter
rss
account
search
search
 

Leading indicators for eurozone slips

Nov. 29, 2012 at 1:58 PM   |   Comments

BRUSSELS, Nov. 29 (UPI) -- The Leading Economic Index for the 17 nations that share the euro as currency slipped 0.2 percent in October, the Conference Board said Thursday.

The index, which fell 0.3 percent in September, reached 104.9 in October.

The index is a comparison to average monthly index in 2004, which was assigned an index value of 100.

With a two-month contraction, "the outlook for the Euro Area economy remains weak," said Conference Board economist Bert Colijn.

"However, the six-month growth rate of the leading economic index has become less negative, pointing to a small chance of a deep contraction," Colijn said.

The Coincident Economic Index for the eurozone, a measurement of current economic conditions, was unchanged at 102.2 in November, the Conference Board said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Russia to take rubles, yuan for oil
2
Snapchat is worth $10 billion now
3
North Dakota gets more gas processing capacity
4
Tanzania positioned as LNG hub, BG Group says
5
Rheinmetall to build vehicle assembly plant in Algeria
Trending News
Video
x
Feedback