The Conference Board Leading Economic Index® (LEI) for France Increased 0.8 Percent

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The Conference Board LEI for France increased again in January as the yield spread and industrial new orders made the largest positive contributions. Between July 2009 and January 2010

LEADING INDICATORS.Five of the seven components of the leading economic index increased in January. The positive contributors to the index- in order from the largest positive contributor to the smallest- are the yield spread, industrial new orders, inverted new unemployment claims, the stock price index and production expectations. The negative contributors to the index- beginning with the largest negative contributor- are building permits (residential) and the ratio of the deflator of manufacturing value added to unit labor cost for manufacturing*.

Please also visit the website of our research associate in France:www.rexecode.fr/index.jsv

With the increase of 0.8 percent in January, the leading economic index now stands at 107.4 (2004=100). Based on revised data, this index increased 0.5 percent in December and increased 0.5 percent in November. During the six-month span through January, the index increased 4.4 percent, and five of the seven components increased (diffusion index, six-month span equals 71.4 percent).

COINCIDENT INDICATORS.Two of the four components of the coincident economic index increased in January. The positive contributors to the index were industrial production and wage and salaries*. Personal consumption and employment* declined in January.

After remaining unchanged in January, the coincident economic index now stands at 103.6 (2004=100). Based on revised data, this index remained unchanged in December and increased 0.1 percent in November. During the six-month period through January, the index increased 0.1 percent, with three of the four series making a positive contribution (diffusion index, six-month span equals 75.0 percent).

NOTE:Prior to March 2009, the residential building permits component of The Conference Board LEI for France is calculated as permits granted minus permits cancelled. From March 2009 going forward, the permits granted series replaces residential building permits because of delays in the publication of permits cancelled data by the source agency. The same standardization factor is applied to both series because their volatilities are similar. If the missing series becomes available, the original definition of the housing permits series may be restored at the next benchmark revision.

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The next release is scheduled for April 21, 2010 at 4:00 A.M; 10:00 AM CET.

For further information contact:

Derek Servais
+ 32 2 679 5054

derek.servais@conference-board.org

Rosa Correia
+32 2 679 50 59

rosa.correia@conference-board.org

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