Press Release: February 2010: Business Climate Indicator continues to improve

The Business Climate Indicator (BCI) for the euro area rose on 25 February 2010 for the eleventh month in a row. Nevertheless the relatively low level of the indicator suggests that year-on-year growth in industrial production in January 2010 was still negative.

The increase in the BCI reflects managers' positive opinion about both order books and production expectations. Their assessment of production trend observed in recent months was even more optimistic. In contrast, the level of stocks was considered to be still in excess of the optimal level.