Bloomberg News

Euro Economy Likely Contracted for Second Month, Eurocoin Shows

November 25, 2011

Nov. 25 (Bloomberg) -- The euro region’s economy probably contracted for a second month in November amid declining confidence among both consumers and businesses, the Eurocoin index showed.

The gauge measuring economic activity in the 17-nation region fell to minus 0.2 percent from minus 0.13 percent in October, the London-based Centre for Economic Policy Research and the Bank of Italy, which co-produce the index, said today in an e-mailed report.

“The fall reflects the further deterioration of most of the variables that are included in the indicator,” according to the report. The index showed last month a negative reading for the first time since September 2009.

The index, which includes price figures and stock-market performances, industrial production and business and consumer confidence readings, aims to provide a real-time estimate of economic growth.

--Editors: Andrew Davis, James Hertling

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net.


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