€-coin declines in October

• In October, €-coin dropped significantly (to -0.67, from -0.18 in September), confirming the underlying weakness of euro-area activity.
• This decline is due to a deterioration in financial, demand and business confidence indicators.
• 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, 1 December and Friday, 5 January 2024 (to be confirmed).

More information: Cyclical coincident indicator of the euro area economy (€-coin)