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A measure reflecting the current economic situation in euro area declined for the first time since last May but it remained around the highest levels since 2006, results of a survey by the Bank of Italy and the Centre for Economic Policy Research showed Friday.

The euro-coin indicator fell to 0.89 in March from 0.96 in February.

The decline reflects the slowdown in industrial activity and, in particular, by the deterioration in business confidence, as well as by the downward correction in share prices.

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