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.
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