IP/ 10/190
Brussels, 25 February 2010
February 2010: Business Climate Indicator continues to improve
The Business Climate Indicator (BCI) for the euro area rose for the eleventh month in a row. Nevertheless the relatively low level of the indicator suggests that year-on-year growth in industrial production in January 2010 was still negative.
The increase in the BCI reflects managers' positive opinion about both order books and production expectations. Their assessment of production trend observed in recent months was even more optimistic. In contrast, the level of stocks was considered to be still in excess of the optimal level.
The BCI is based on a factor analysis of the euro area aggregate balances (seasonally adjusted) of five of the monthly questions in the industry survey (only employment and selling-price expectations are excluded).
Full details of the Business Climate Indicator are available on the Europa website:
http://ec.europa.eu/economy_finance/db_indicators/surveys/index_en.htm
The next BCI Resu lts are due to be published on 29 March 2010.
