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Euro Area Outlook Stable
The latest value of the EuroCOIN indicator released by CEPR shows:
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Euro area business cycle conditions worsened slightly in December. EuroCOIN™ decreased from a quarterly rate of 0.474 in November to a rate of 0.394 in December.
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The EuroCOIN estimates for the fourth quarter have been updated upward by taking into account the new data
releases of industrial production and labour market data. Growth rates remain positive but below the 1986-2002 average.
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Among
the variables composing the index, surveys as well as labour data
point to a decline in economic activity in the euro area in November
and December 2002.
Notes for Editors:
CEPR is an international network of 600 Research Fellows based mainly in 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 monthly 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 2919, Mobile: 07740 519 225 or email
rlonie@cepr.org
For more information: http://www.cepr.org/data/eurocoin
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