Cyclical coincident indicator of the euro area economy (€-coin)

€-coin is a cyclical coincident indicator of euro-area economic activity that is updated in real time and released monthly. As such, it offers a monthly and timely estimate of the current state of the economy, free of short-term fluctuations.
The indicator draws on a large number of economic variables (industrial production, business surveys, stock market and financial data, demand indicators, and more) and extracts the information needed for forecasting medium- to long-term GDP growth.
It is published in collaboration with the Centre for Economic Policy Research (CEPR).

€-coin declines in January

• In January, €-coin fell again (to -0.56, from -0.22 in December).

The decline was mainly due to the weakness in demand indicators and to worsening consumer confidence.


New Eurocoin: A Tutorial Note

• €€-Coin and the growth outlook for the euro areapdf 391.1 KB
• Publish date::
• 20 September 2007
• No. 436 - A real time coincident indicator of the euro area business cycle
• by F. Altissimo, A. Bassanetti, R. Cristadoro, M. Forni, M. Lippi, L. Reichlin, G. Veronese
• Temi di discussione (Working papers)
• Publish date::
• 01 December 2001
• No. 703 - Tracking economic growth in real time during the pandemic: a rationale for a revision of Euro-coin
• by Valentina Aprigliano, Simone Emiliozzi and Marco Lippi
• Questioni di Economia e Finanza (Occasional papers)
• Publish date::
• 20 June 2022