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Euro Area Indicator Confirms Growth in Economic Activity
The latest value of the €COIN indicator
released by CEPR this week:
-
Growth
in the Euro Area rose substantially in February, and there is new
evidence that industrial production is also strengthening. Newly
available data have led to an upward revision of €COIN for
December and January, and the indicator has moved into positive
territory for January and February indicating growth in economic
activity.
-
€COIN
monthly indicator, rose to 0.232 in February from
a revised 0.075 in January. In February
industrial production began to contribute to the rise in the
indicator, suggesting that industrial production has now begun to
recover in the Euro Area. Labour market variables have improved
slightly, but are still negative.
-
Between
December 2000 and November 2001 €COIN fell and in September 2001
became negative for the first time since the end of 1995. In
December 2001 the indicator showed an upturn, which is confirmed
by the positive figures for January and February 2002.
-
In
August 2001, there were already signs that economic activity had
levelled off after falling throughout the first half of 2001. The
effects of September 11th led to a sharp fall in euro area growth
in the months following the attack, prolonging the recession and
delaying the first indications of positive growth until December.
Notes for Editors:
CEPR
is a network of over 550 Research Fellows based throughout Europe, who
collaborate through the Centre in research and its dissemination. CEPR
helps its Research Fellows to develop projects, obtain their funding,
administer them and disseminate their results. The Centre’s research
ranges from open economy macroeconomics to trade policy, from the
economic transformation of Central and Eastern Europe to regionalism in
the world economy.
Who produces the Indicator? EuroCOIN
is published on the 28th of each month by CEPR and
constructed by a team of academic researchers associated with
CEPR. The team comprises: Filippo
Altissimo (Banca d'Italia and
CEPR), Antonio Bassanetti (Banca d'Italia),Riccardo Christadoro (Banca
d'Italia), Mario
Forni (Universita di Modena and
CEPR), Marc Hellin (ECARES, Universite Libre de Bruxelles), Marco Lippi
(Universita di Roma), Lucrezia
Reichlin (ECARES, Universite
Libre de Bruxelles and CEPR), Giovanni Veronese (Banca d'Italia)
Contact Information:
For interview requests and further information about CEPR please contact CEPR Press Officer Robbie
Lonie, Tel: (44 020) 7878 2918, Mobile: 07740519225 or email
rlonie@cepr.org
For more information: http://www.cepr.org/data/eurocoin
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