Dec. 30 (Bloomberg) -- The euro area’s economy probably shrank for a third month in December amid falling consumer demand, the Eurocoin index showed.
The gauge measuring economic activity in the 17-nation region was stable at minus 0.2 percent, 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 reading reflects “the worsening in the indicators of demand,” according to the report. Still, “the outcome reflects the improvement in some qualitative surveys of industrial and service firms which offset” the other indicators.
In October, the Eurocoin showed 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.
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