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The Euro Area Indicator Confirms the Positive Signal of Economic Growth
The latest value of the €COIN indicator
released by CEPR this week:
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The
rate of growth in the Euro Area was rising in March. For the fourth month
in a row, the Euro economy showed positive growth, confirming
that there is a tendency to return to the historical average. This
tendency, however, has been weaker in March than in February.
Like in the previous month, newly
available data have led to an upward revision of €COIN for
December, January, and for February, with a very small but positive
growth rate for December.
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€COIN
monthly indicator rose to 0.427 in March from revised
0.377 in February and 0.205 in January.
The positive contribution of industrial production to
February rise is not confirmed in March.
Labour
market variables have improved slightly since February but are
still negative.
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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, February and March 2002.
The arrival of new data has slightly changed the figures for
previous months but has confirmed the dynamics presented by the
indicator.
-
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 600 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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