Sunday, 27 January 2013

Banca D'Italia €-Coin Index Indicates Continued Euro Area Recession

Banca D'Italia, the central bank of Italy, reported a slight improvement in the €-coin index for January 2013. The index, which is an estimate of the quarterly GDP growth rate for the euro area, was -0.23% for the month, compared to -0.27% for December 2012. The index therefore continues to indicate a continued recession in the euro area.

The index has now been in negative territory every month for some 18 months and when viewed together with declining industrial production and increased unemployment rate indicate the economic situation in the euro area is getting worse and certainly not improving.

Read the press release here.

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