In September €-coin turned upwards (to -0.31, from -0.64 in August), after decreasing for six consecutive months, to reach the levels recorded last spring.
The indicator benefited from the improvement in consumer and business confidence and the more favourable developments in non-durable goods consumption.
In the current phase, the indicator reflects only partially the unfolding of the impact of COVID-19 on economic activity, because the dataset contains limited information on the service sector, especially for tourism, hotel and recreational services, among the hardest hit by the pandemic.
