The Conference Board (CB) released its leading economic index for the Eurozone on Thursday. The leading economic index for the Eurozone was up 0.3% to 107.7 in July, after a 0.5% rise in June.

The increase was mainly driven by rises in consumer expectations and new orders for manufacturing.

"The Leading Economic Index for the Euro Area increased in July, suggesting the European economy will continue to improve moderately through the final months of the year," Director of Business Cycles and Growth Research at The Conference Board, Ataman Ozyildirim, said.

The coincident economic index, which measures current economic activity, climbed to 100.4 in July.