€-coin declines marginally in May

• €-coin edged down in May (to 0.18, from 0.26 in April), while still signalling a recovery in economic activity in the euro area.
• The indicator continues to reflect the ongoing weakness in manufacturing, but is being buoyed by the improvement in consumer confidence and in cyclical indicators for services.
• The €-coin indicator developed by the Bank of Italy provides a summary index of the current economic situation in the euro area. The indicator is an estimate of quarterly GDP growth shorn of the most erratic components (seasonal variations, measurement errors and short-run volatility). €-coin is published monthly by the Bank of Italy and CEPR.
• The next publication dates for €-coin are Friday, 28 June 2024 and Friday, 2 August 2024 (to be confirmed).

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