Eurocoin for August 2010 has confirmed that composite leading indicators for the Euro area growth are pointing to continued deterioration in growth in Q3 2010. Eurocoin has declined to 0.37 i n August from 0.4 in July, marking a 5th consecutive monthly drop.
Here's the chart:
My forecast for next Eurocoin to reach 0.34 in September and Q3 2010 growth to slide to 0.2-0.25%. My previous forecast for Eurocoin for August-September (issued in June and confirmed in July) was 0.34.