Press Release: February 2005: Business Climate Indicator in the euro area declines

The Business Climate Indicator (BCI) for the euro area decreased by 0.20 points in February. The indicator now stands at a value of 0.20, returning to a level comparable to the one reached in April-May of last year. All components of the BCI went down. The biggest fall in the industry managers' opinions are recorded for the export and total order books and for the production trend observed in the recent past. The assessments concerning stocks of finished products and production expectations declined more moderately