Cyclical coincident indicator of the euro area economy (€-coin)

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€-coin is a cyclical coincident indicator of euro-area economic activity that is updated in real time and released monthly. As such, it offers a monthly and timely estimate of the current state of the economy, free of short-term fluctuations.

The indicator draws on a large number of economic variables (industrial production, business surveys, stock market and financial data, demand indicators, and more) and extracts the information needed for forecasting medium- to long-term GDP growth.

It is published in collaboration with the Centre for Economic Policy Research (CEPR).

€-coin decreases in May

  • €-coin fell further into negative territory in May (to -0.42, from -0.15 in April).
  • This development reflects the decline in industrial production and in the qualitative indicators regarding business activity.


Press release


Analysis and methodology

New Eurocoin: A Tutorial Note