Sat, Feb 11 2012

Europe's business climate, economic sentiment indicators improve

Tue, Sep 29 2009 17:39 CET

byThe Sofia Echo staff

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Europe's business climate, economic sentiment indicators improve

The Business Climate Indicator (BCI) for the euro area improved further in September 2009, although the improvement was less marked than in the previous month, Eurostat said on September 29 2009.

The level of the BCI, however, continues to remain very low, suggesting that year-on-year growth in industrial production was still strongly negative in August.

The modest rise in BCI was mainly due to an improving assessment of stocks of finished products, with slightly more optimistic views on production in recent months and production expectations than in previous month.

The upward trend in the Economic Sentiment Indicator (ESI) continued in September in both the EU and the euro area.

The ESI rose to 82.6 (+1.6 points) in the EU and to 82.8 (+2.0) in the euro area.

These levels, however, are still well below the respective long-term averages and the September increases were the smallest since the upturn started in April.

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