€-coin decreased in March, to 0.13, from 0.28 in February.
The indicator does not yet capture the full scale of the impact on economic activity of the ongoing pandemic, as only a small subset of the data available for March that were used for its construction refers to the latest developments.
The reduction in €-coin observed so far only reflects the initial effects of the fall in share prices and the widespread deterioration in business and consumer confidence that occurred in the second half of March in connection with the spread of the pandemic across euro-area countries.
