In August, the Eurocoin collapsed, the index that estimates the monthly trend of GDP in the euro area taking into account seasonal effects. The figure more than halved compared to July (0,45%), falling to 0,22%. It is thus accentuated "the decline marked in the previous two months“, writes Bankitalia, underlining that the index “is now compatible with a basic growth rate of less than 1% per annum”.
The decline, explains the Italian Central Bank, "reflected a worsening of most of the series that contribute to the indicator". Above all, "a significant drop in share prices and the climate of business and consumer confidence" weighed heavily.
