(Finance) – Bank of Italy has announced that in July, the € -coin indicator fell further (to 0.38 from 0.88 in June), signaling a marked weakening of activity in the euro area. “The decline in the indicator was affected by the worsening of consumer and business confidence climates and some demand indicators, including registrations”, reads a note from Via Nazionale.
The € -coin indicator – developed by the Bank of Italy – provides a real-time summary estimate of the current economic situation in the euro areaexpressing this indication in terms of the quarterly growth rate of GDP net of the most erratic components (seasonality, measurement errors and short-term volatility).