€-coin continues to decrease in August

• In August €-coin decreased further (to -0.64, from -0.50 in July), reaching levels last recorded in 2009, during the Great Recession.
• The indicator has been affected by the weakness in international trade and, as in July, by still low business and consumer confidence.
• 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: Wednesday, 30 September and Friday, 30 October(provisional).

€-coin and euro-area GDP – August 2020

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.

More information is available at http://eurocoin.cepr.org/