IP/08/357
Brussels, 29 February 2008
February 2008: Business Climate Indicator for the euro area declines further in February The Business Climate Indicator (BCI) for the euro area continued to decline in February. The indicator is still at a fairly high level, which suggests steady economic activity in the industry sector in the first months of this year, despite the deceleration in industrial production growth registered at the end of 2007. The decrease in the BCI is mainly due to a worsening of industry managers' production expectations for the months ahead. Managers' assessments of their total order books and export order books also declined slightly, while their views of the stocks of finished products and production trend observed in recent months remained unchanged.
[ Figures and graphics available in PDF and WORD PROCESSED ]
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).
[ Figures and graphics available in PDF and WORD PROCESSED ]Full details of the Business Climate Indicator are available on the Europa website:
http://ec.europa.eu/economy_finance/db_indicators/db_indicators8650_en.htm
The next BCI Results are due to be published on 29 February 2008.
