EduBourseActualitésSeptember 2005: Business Climate Indicator for the euro area continues to improve

September 2005: Business Climate Indicator for the euro area continues to improve

The Business Climate Indicator (BCI) for the euro area continued to improve over the period August/ September. The recent developments thus substantiate the observation of an upswing in cyclical perceptions of industry managers since June. The improvement over summer lifts the BCI above its long term average of zero in September, which is the first reading in positive territory since March of this year. The positive development of the BCI in September was reflected in almost all underlying components. The improvement of industry managers’ opinions was more pronounced for the production in recent months than for both the export and total order books and the stocks of finished products. Only the production expectations remained steady in September. In August, the improvement of industry managers’ production expectation had been offset by the decline of their opinions on production in recent months, while their views had remained steady for the three remaining components.

[Graphic in PDF & Word format]

The BCI is based on a factor analysis of the euro area aggregate balances (seasonally adjusted) of five of the monthly questions in the industry survey (only employment and selling-price expectations are excluded).

[Graphic in PDF & Word format]

Full details of the Business Climate Indicator are available on the Europa website:

http://europa.eu.int/comm/economy_finance/indicators/businessclimate_en.htm

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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