The euro area’s economic slump probably deepened further in July as consumers and executives grew more pessimistic about the outlook for the region’s economy, the Eurocoin index showed.
The gauge measuring economic activity in the 17-nation region fell to minus 0.24 from minus 0.17 in June, 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 deterioration was due principally to the negative results of surveys of businesses and households,” according to the report.
The indicator, which includes price developments, stock-market performance, industrial production and business and consumer confidence readings, seeks to provide a real-time estimate of economic growth.
The next index will be published Aug. 31.