June 03, 2024 11:42 GMT
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).
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