Euro Area Economic Growth Slows in June – EuroCOIN Gives Lowest Reading Since Dec 2001
The latest value of the EuroCOIN™ indicator released by the Centre for Economic Policy Research (CEPR) shows:
– CEPR’s EuroCOIN reading for June 2005 points to a slowdown of economic activity for the 12 countries that make up the euro area. The upturn signals given for March and April have been more than offset by a decrease in the May and June readings for EuroCOIN, indicating that the direction of euro area economic growth remains uncertain.
– In the euro area, the cyclical component of quarterly GDP growth decreased from 0.329 in May to 0.242 in June. This is the lowest EuroCOIN reading since December 2001. The May figure has been revised downwards.
– The overall indicator weights signals coming from different macroeconomic variables. Interest rates, industrial production indices, financial variables, labour-related variables and surveys point to a reduction of growth, whereas interest rates give a positive signal.
– EuroCOIN figures from March 2005 are provisional and may be subject to revision:
June 2004:
0.593
July 2004:
0.518
August 2004:
0.457
September 2004:
0.470
October 2004:
0.402
November 2004:
0.412
December 2004:
0.367
January 2005:
0.357
February 2005:
0.340
March 2005:
0.387
April 2005 0:
0.384
May 2005:
0.329
June 2005:
0.242
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