Further reduction in November for theEurocoin: the index has in fact fallen to -0,20% (in October it was -0,13%), recording the sixth consecutive decline. As in recent months, the decline reflects the further deterioration of most of the
variables that contribute to the calculation of the indicator.
The Eurocoin, developed by the Bank of Italy, provides a real-time synthetic estimate of the current economic situation in the euro area, and expresses this indication in terms of the quarterly growth rate of GDP excluding the most erratic components (seasonality, measurement errors and short-term volatility).
The Eurocoin estimate is obtained by exploiting a vast set of macroeconomic historical series (such as, for example, industrial production indices, business surveys, demand indicators and stock market indices) from which the relevant information is extracted for the prediction of the underlying dynamics of the product in the area.
Given its timeliness, the Eurocoin estimate precedes the release of the official data on GDP growth in the area released by Eurostat by a few months and is characterized by its good anticipatory properties of the quarterly GDP growth rate net of the erratic and short-lived.
