€-coin contracts in April

• In April, €-coin recorded its biggest drop on the previous month since the time series was begun, decreasing to -0.13 from 0.13 in March..
• The main factors were the contraction in activity in the euro area in the first quarter and the collapse in the confidence of consumers and firms since March, as a result of the spread of the pandemic in various euro-area countries.
• 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, 29 May and Friday, 26 June  (provisional).

€-coin and euro-area GDP – April 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/