Free Trial

Euro-coin Nowcast Slips To 0.18 In May

EUROZONE DATA

The Bank of Italy’s Euro-coin indicator fell to 0.18 in May, from 0.26 last month.

  • The indicator, which provides a nowcast for Q/Q Eurozone trend growth (i.e. excluding seasonal variations, measurement errors and short-run volatility), has nonetheless printed in positive territory for the last 3 months, signalling an ongoing recovery in the region’s economic activity.
  • The decline comes after Bloomberg’s GDP Nowcast (which aims to estimate actual Q/Q growth) rose to 0.25% Q/Q in May (from 0.04% prior).
  • Eurozone Q1 GDP is expected to be confirmed at 0.3% Q/Q on Friday, while the current Bloomberg consensus sees Q2 growth at 0.2% Q/Q (broadly in line with the two indicators noted above).

121 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Bank of Italy’s Euro-coin indicator fell to 0.18 in May, from 0.26 last month.

  • The indicator, which provides a nowcast for Q/Q Eurozone trend growth (i.e. excluding seasonal variations, measurement errors and short-run volatility), has nonetheless printed in positive territory for the last 3 months, signalling an ongoing recovery in the region’s economic activity.
  • The decline comes after Bloomberg’s GDP Nowcast (which aims to estimate actual Q/Q growth) rose to 0.25% Q/Q in May (from 0.04% prior).
  • Eurozone Q1 GDP is expected to be confirmed at 0.3% Q/Q on Friday, while the current Bloomberg consensus sees Q2 growth at 0.2% Q/Q (broadly in line with the two indicators noted above).