Brussels, 29 April 2010
In April, the Business Climate Indicator (BCI) for the euro area improved further. The rebound of the indicator suggests that economic activity in industry will continue to recover in the coming months, although it has still some way to go to reach its pre-crisis level. Managers in industry were upbeat about their order books and the production trend observed in recent months. They were also optimistic about their export order books. They considered that stocks of finished goods were lower than desirable and still declining. Their previously optimistic production expectations remained largely unchanged.
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:
The next BCI Results are due to be published on 31 May 2010.