Leading Economic Indicators Up in Euro Area

The Conference Board Leading Economic Index (LEI) for the Euro Area increased 0.4 percent in October to 114.0 (2004 = 100), following a 0.2 percent increase in September and a 0.6 percent increase in August.

The eight components of The Conference Board Leading Economic Index for the Euro Area are:

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)

Money supply growth is up in the euro area, but not dramatically.The Euro Area's M3 money suppply for the three months through September advanced 3.2%  on annualized rate. This comapres with three month M2 money supply growth in the U.S. of 6.0% on an annualized basis.

This suggests that economic "growth", i.e. measures of the manipulated growth economy will continue sluggish in the euro area.