The Bank of Italy reported that its €-coin indicator fell to 0.38 in September from 0.84 in August, returning to its June level. The decline reflected higher market interest rates and deteriorating consumer confidence. Published monthly by the Bank of Italy and the Centre for Economic Policy Research, €-coin estimates underlying quarterly euro-area GDP growth after removing seasonal variations, measurement errors and short-term volatility.
Bank of Italy’s €-coin indicator falls to 0.38 in September
The Bank of Italy’s €-coin indicator declined to 0.38 in September from 0.84 in August, returning to its June level. Higher market interest rates and weaker consumer confidence drove the fall.