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 declines in October

  • In October, €-coin dropped significantly (to -0.67, from -0.18 in September), confirming the underlying weakness of euro-area activity.
  • This decline is due to a deterioration in financial, demand and business confidence indicators.


Press release


Analysis and methodology

New Eurocoin: A Tutorial Note