News July 2014

€-coin turns down in July

  • In July the €-coin indicator decreased slightly, falling to 0.27 from 0.31 in June, returning to its level at the end of last year.
  • The negative impact of the fall in industrial production in May and of the weak performance of the stock market in July was partially offset by the flattening of the yield curve.

€-coin: the Euro Area Economy in One Figure – July 2014




The most recent real-time figures are: 



July 2013


August 2013


September 2013


October 2013


November 2013


December 2013


January 2014


February 2014


March 2014


April 2014


May 2014


June 2014


July 2014




Click xls to download the excel file containing data or csv to download the comma separated version.
For a more detailed analysis see the €-coin ANALYSIS section, for an overview of the recent behaviour of the series on which €-coin is based see the Euro area at a glance section. To see €-coin "in action" in a realtime simulation starting in December 2003 click here: See €-coin in real time
€-coin in brief
€-coin is a real-time, monthly estimate of area-wide GDP growth, computed each month by the staff of the Banca d’Italia. It provides a single number summarizing the current economic picture for the euro area.
€-coin collates a large collection of statistical data (industrial production, business surveys, stock market and financial data, demand indicators, and more) and extracts the information that is relevant to forecast GDP. It tracks underlying GDP growth, preceding official GDP releases by several months. Essentially, the index:
(i) gives a monthly “smoothed” estimate of quarter-on-quarter GDP growth in the euro area;
(ii) highlights the underlying trend by adjusting the growth rate for short-term fluctuations and measurement errors; that is, the index figure is an indicator of the euro area’s actual growth momentum.
For further technical details on €-coin, see “New Eurocoin: Tracking economic growth in real time”, The Review of Economics and Statistics, No. 92, 1024-1034, available in the Bank of Italy working paper series (Temi di Discussione della Banca d’Italia) no. 631 or CEPR Discussion Paper, No. 5633