Press Release: November 2010: Business Climate Indicator improves slightly in the euro area

The Business Climate Indicator (BCI) for the euro area registered a further gain in November, although the improvement was less marked than in the previous month. The level of the indicator now stands at its highest since December 2007, suggesting that the recovery in industry will continue in the coming months. The modest rise in BCI was mainly due to significantly brighter export order books and to more optimistic production expectations. The stocks of finished goods component improved also somewhat in November, but remained at very low level. On the contrary, managers' assessment of the production trend observed in recent months decreased.