€-coin turns negative in October

Friday, October 28, 2011
  • €-coin declined again in October to turn negative for the first time since September 2009, falling to -0.13% from 0.03% in September.
  • The fall is the result of deterioration in most of the variables that are included in the indicator, and in particular of the worsening climate of confidence among firms and consumers.
  • 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, 25 November 2011 and Friday 30 December 2011 (provisional).
Attachments: 
PDF icon EuroCOIN Press Release October 2011.pdf