|the real time indicator of the Euro Area economy|
The €-coin Launch
€-coin: the Euro Area Economy in One Figure
What is €-coin?
On 20th September 2007 the Banca d'Italia and CEPR launched €-coin, a new economic activity indicator for the Euro area. It replaces the old Eurocoin index published monthly by CEPR. €-coin is a real-time, monthly estimate of area-wide GDP growth. It provides a single number summarizing the current economic outlook for the Euro area. To view the presentations at the launch meeting, click here.
Publication of €-coin will begin on a regular (monthly) basis on September 28, 2007 at 09:30 CET. Future releases are scheduled for 29th October and 29th November.
€-coin is obtained by collecting a large set of statistics (such as industrial production, surveys, stock markets and financial data, demand indicators) and extracting from it the information that is relevant to forecast future GDP. It tracks GDP growth anticipating official GDP releases by several months. It is a “smooth version” of GDP growth, that:
Recent Realtime Estimates of €-coin
A detailed account of the methodology and the construction of Eurocoin can be found in Banca d’Italia, Temi di Discussione n. 631 (or CEPR Discussion Paper no. 5633), while background theory is in a scholarly article by Mario Forni, Marc Hallin, Marco Lippi and Lucrezia Reichlin in the Journal of the American Statistical Association (2005) 100, pp. 830-40.
The €-coin launch: After a volatile summer, where do we stand? Eurocoin and the growth outlook for the Euro area
Hosted by CEPR on Thursday, 20 September, 2007.