€-coin decreased further in July (to 0.38, from 0.88 in June), signalling a marked weakening in economic activity in the euro area.
The worsening recorded for consumer and business confidence and for some demand indicators, including new car registrations, contributed to the decline.
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.
As of January 2021, a new version of the indicator has been released, which incorporates some revisions to the database and to the sample on which our estimates are based. More information has been included regarding services – a sector whose importance has increased in terms of value added in the euro area
Next €-coin release dates: Friday, 5 September and Monday, 3 October (provisional).
€-coin and euro-area GDP – July 2022
Source: Bank of Italy and Eurostat.
Note: The €-coin series is based on the real time estimates of the indicator at a given date and hence the series is not revised. On the other hand, the GDP growth rates are calculated on the basis of Eurostat’s most recently published series and do reflect any changes in the historical data.
