EuroCOIN Points to Stagnation in Euro Area

The latest value of the EuroCOIN™ indicator released by the Centre for Economic Policy Research (CEPR) shows:

CEPR’s EuroCOIN reading for May 2005 points to a slowdown of economic activity for the 12 countries that make up the euro area. The upturn signal of March and April is not confirmed, indicating that we are still in a period of uncertainty.
In the euro area, the cyclical component of quarterly GDP growth decreased from 0.418 in April to 0.351 in May. The April figure has been revised downwards.
The overall indicator weights signals coming from different macroeconomic variables. Interest rates, industrial production indices, financial variables and labour-related variables point to a reduction of growth, whereas surveys give a positive signal for the first time since January 2005.
EuroCOIN figures from February 2005 are provisional and may be subject to revision.