ENG Macro Flash

Macro Flash: The €-Coin indicator remains in negative territory in July

The Bank of Italy has released its €-Coin indicator for July. It continues its fall in negative territory at -0.50 (against -0.37 for June). The reading of the €-Coin indicator contrasts with the Composite PMI for the Eurozone which shows a strong rebound in economic activity in July. Indeed, the IHS Markit Eurozone PMI Composite Output Index maintained its recent upward trend rising by over six points on the month to a reach a level of 54.9.