The €-coin indicator fell considerably in September to -0.73 (from 0.23 in August), moving into negative territory for the first time since September 2020.
The decline in the indicator reflected a concurrent and sharp deterioration in several components, in particular the drop in euro-area consumer and business confidence and a reduction in industrial production.
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.
Next €-coin release dates: Friday, 4 November and Monday, 5 December (provisional).