The Conference Board Leading Economic Index® (LEI) for France declined 0.2 percent in May to 118.2 (2004 = 100), following a 0.1 percent increase in April, and a 0.4 percent increase in March.
At the same time, The Conference Board Coincident Economic Index® (CEI) for France, a measure of current economic activity, declined 0.1 percent in May to 103.4 (2004 = 100), following no change in April, and a 0.1 percent decline in March.
The upward trend in the LEI has moderated, and its six-month growth rate has slowed over the last six months. Meanwhile, despite month-to-month volatility, the CEI has been relatively flat since October 2012, and its six-month growth rate has turned slightly negative for the first time in seven months. Taken together, the recent behavior of the composite indexes suggests that growth in economic activity is unlikely to pick up in the near term.
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