The Bank of Italy reported that its €-coin indicator rose to 0.51 in October from 0.38 in September. Improvements in some demand indicators and favorable signals from services activity drove the increase. The indicator estimates underlying quarterly GDP growth in the euro area, filtering out seasonal variations, measurement errors and short term volatility. It draws on a broad set of macroeconomic data to provide an early indication of the growth trend several months before official euro area GDP figures.
Bank of Italy reports €-coin increase to 0.51 in October
The Bank of Italy’s €-coin gauge of underlying quarterly euro area GDP growth increased to 0.51 in October from 0.38 in September. The rise reflected improvements in some demand indicators and favorable signals from services activity.