In July 2013, the Business Climate Indicator (BCI) for the euro area increased by 0.14 points to 0.53. The assessment of past production improved sharply and also production expectations and the level of overall order books were appraised more positively. The assessment of the level of export order books and the stocks of finished products remained broadly 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). The next BCI results are due to be published on 30 August 2013.
Business Climate Indicator explained
The Directorate General for Economic and Financial Affairs of the European Commission conducts regular harmonized surveys for different sectors of the economies in the European Union and in the applicant countries. They are addressed to representatives of the industry (manufacturing), services, retail trade and construction sectors, as well as to consumers. These surveys allow comparisons among different countries’ business cycles and have become an indispensable tool for monitoring the evolution of the EU and the euro area economies, as well as monitoring developments in the applicant countries.
Regular harmonized surveys are conducted by the Directorate General for Economic and Financial Affairs for different sectors of the economies in the European Union and in the applicant countries.
Source: European Commission