The eurocoin indicator declined to the lowest level in the six months in June, signaling a further contraction in the Eurozone economy, data from a survey by the Bank of Italy and the Center for Economic Policy Research showed Thursday.
The indicator, which provides a summary index of the current economic situation in the euro area, dropped to -0.17 percent in June from -0.03 percent in May, which was revised up from -0.13 percent. The latest reading was the lowest since December 2011.
The deterioration of the indicator reflected significantly worse results of opinion surveys of firms and households and, to a lesser extent, trends in share prices, the survey showed.
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