€-coin improves in December but remains negative

• In December, €-coin rose sharply to -0.22, from -0.79 in November; nonetheless, the underlying weakness in euro-area economic activity remains confirmed. 
• The improvement in the indicator was mainly driven by the decline in the government bond yield curve and the recovery in equity prices.
• 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, 2 February 2024 and Friday, 1 March 2024 (to be confirmed).