The Leading Economic Index for the 17 nations that share the euro as currency rose 0.9 percent in August, the Conference Board said Thursday.
The index, which assigns 2004 a base value of 100, climbed to 108.9 in the month after gaining 0.8 percent in July.
The eurozone's LEI has made gains for three consecutive months with the gains beginning to appear sustainable, Conference Board Economist Bert Colijn said.
"The strong increase in the LEI for the third month in a row suggests a brightening outlook for the Euro Area," Colijn said in a statement.
"Improvements in business and consumer sentiment were the major drivers [of the increase], while continued financial stability in the Euro Area is also helping to sustain the recovery," he said.
Low investment, high unemployment, and uncertainty about growth in export markets is likely to hold back growth in the coming months, Colijn added.
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Original headline: Leading indicators rose in Europe
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