The Euro Area Business Cycle Network (EABCN) has taken responsibility for updating the Euro Area Business Cycle Dating Committee’s (EABCDC) Area Wide Model (AWM) database, originally managed by the ECB. This move aims to enhance the availability of the data for research on the euro area business cycle, with plans for updates twice yearly.

The Euro Area Business Cycle Network (EABCN) has officially assumed control over the Euro Area Business Cycle Dating Committee's (EABCDC) Area Wide Model (AWM) database, which was decommissioned by the European Central Bank (ECB) in 2010. The AWM database, instrumental for empirical work on the euro area, has not been updated since 2019. 

It is hoped that the EABCN's involvement will rejuvenate this important resource, allowing for regular updates twice a year in conjunction with EABCDC meetings. 

The AWM database provides a foundational source for analyzing the euro area’s economic fluctuations and is significant for output gap estimations among other economic indicators. The recent transition of data management to EABCN may come as a relief for both both academic researchers and policy institutions focused on the euro area's economic stability who benefit from reliable data about business cycles within the Eurozone. 

_{^{Image Credits: Peter Hermus / Getty Images, via Canva Teams}}