Eurocoin Indicator Falls In November

An indicator reflecting the current economic situation in the euro area fell in November, data published by the Bank of Italy showed on Friday.

The eurocoin indicator dropped to -0.62 in November from -0.31 in October. In September, the indicator stood at -0.73.

The decline was largely caused by further deterioration in confidence among manufacturing firms, on a downward trajectory since nine months ago.

The monthly indicator developed by the Bank of Italy and CEPR provides a summary index of the current economic situation in the euro area.