An indicator reflecting the current economic situation in the euro area fell in August after rising in the previous month, survey data from the Bank of Italy and the Centre for Economic Policy Research showed.

The Eurocoin indicator dropped to 0.18 from 0.21 in July. In June, the reading was 0.14.

The indicator continues to be adversely affected by the slowdown in international trade, The weak industrial cycle and the consequent worsening in business confidence, especially in the manufacturing sector, the report said.