Leading indicator growth slows in France

The Leading Economic Index for France increased marginally in November, the Conference Board said Tuesday. The economic research firm said the yield spread -- what the government pays for borrowing compared to a benchmark rate -- more than offset a negative contribution from rising unemployment benefit claims. Four out of seven components to the leading index rose in the month, including residential building permits, stock prices and new orders for factories. The rate of leading index growth, however, has slowed, the Conference Board said. From October, the leading economic index rose 0.1 percent to reach 116.8. But the six-month gain slowed to 1.1 percent from May to November. Growth in the six months prior to that was 1.6 percent, about a 3.4 percent annual rate, the firm said. Further, the Coincident Index for France, which measures current business conditions, slipped 0.1 percent in the month to 103.3. "Taken together, the recent behavior of the composite indexes suggests that the contraction in economic activity will probably ease in the near term," the monthly report said.