In November 2012, the Business Climate Indicator (BCI) for the euro area increased by 0.42 points to 1.19. The increase was reflected in all components of the BCI, i.e. order books (overall and export), past production, production expectations and the adequacy of stocks of finished products).
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).
The next BCI results are due to be published on 8 January 2013.
Full details of the Business Climate Indicator are available on the Europa website: