Key facts
- The €-coin indicator for euro area economic growth decreased to 0.45 in May.
- The indicator was 0.52 in April and 0.26 in May 2025.
- Weaker confidence among households and businesses contributed to the decline.
- Softening demand and ongoing supply chain pressures are cited as influences.
The Bank of Italy and the Centre for Economic Policy Research (CEPR) jointly announced that the €-coin indicator, which gauges underlying economic growth in the euro area, decreased to 0.45 in May 2026. This figure is down from 0.52 recorded in April 2026. The institutions stated that this decline is a result of diminished confidence among both households and businesses. Factors contributing to this sentiment include softening demand and persistent pressures on supply chains. For comparative context, the €-coin stood at 0.26 in May 2025. The €-coin is designed to provide a real-time estimation of current euro area economic conditions, representing quarterly GDP growth after removing erratic components like seasonality, measurement errors, and short-term volatility. The next releases of the €-coin indicator are scheduled for July 2 and August 4, 2026, though these dates are subject to confirmation.