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Business Climate Indicator declines

Friday July 29th, 2011

The European Commission has revealed that the Business Climate Indicator (BCI) for the euro area fell for the fifth month in a row.

In July 2011, the current level of the indicator remains comparatively high, but the steady fall observed since March indicates that euro-area industry has entered a phase of growth moderation.

The European Commission said that the drop in the BCI in July reflects ‘primarily weakening production expectations and worsening assessments’ of production trends observed in recent months. These developments went along with managers being more pessimistic about overall order books and export order books.

Full details of the Business Climate Indicator are available here

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