Press Release: Commissioner Solbes presents new ‘business climate indicator’ for the euro area

On 27.11.00, the European Commission services published the first indicator of a series of synthetic indicators being designed to provide better insights into the business cycle situation in the euro area. The first indicator is the 'business climate indicator', also known as the 'common factor in industry'. It is based on monthly business surveys and is designed to deliver a clear and timely assessment of the cyclical situation within the euro area. The latest results point to a somewhat less buoyant industrial climate during the autumn of 2000, following the peak reached in June. The indicator will be updated and released on a monthly basis. It will henceforth also be included in the 'Key indicators for the euro area' available on the Internet site of the Commission. Other business cycle indicators will be published in the future.