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European Commission - Press release
December 2011: Business Climate Indicator improves in the euro area
Brussels, 06 January 2012 - In December 2011, the Business Climate Indicator (BCI) for the euro area increased for the first time in ten months. The improvement in the BCI in December was mainly driven by increased optimism about production expectations, as well as by a more positive assessment of production trends observed in recent months and export order books. By contrast, managers were more pessimistic about their overall order books, and their assessments of stocks of finished products marginally increased.
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 30 January 2012.