Area euro - Fiducia delle imprese

The Business Climate Indicator for the Euro Area fell slightly by 0.03 points from the previous month to -0.23 in November 2019, missing market expectations of -0.14, as managers’ assessments of overall order books and, in particular, past production deteriorated. Meanwhile, their production expectations and assessments of the stocks of finished products improved.

The Business Climate Indicator for the Euro Area rose slightly by 0.04 points from the previous month to -0.19 in October 2019, beating market expectations of -0.24. While managers’ assessments of the stocks of finished products and overall order books remained broadly stable, their views on past production improved sharply, as did, to a lesser extent their assessments of export order books. Only managers’ production expectations deteriorated.

The Business Climate Indicator for the Euro Area dropped by 0.34 points from the previous month to -0.22 in September 2019, the lowest level since August 2013 and below market expectations of 0.11. All the components of the BCI worsened. The decline was particularly sharp in managers’ assessments of past production, export order books and overall order books. Albeit to a lesser extent, also their production expectations, as well as their views on stocks of finished products deteriorated markedly.

The Business Climate Indicator (BCI) for the Euro Area increased by 0.22 points to +0.11 in August 2019, beating market expectations of +0.08. Managers’ assessments of past production and of export order books improved sharply, as well as their production expectations, views on overall order books and the level of stocks of finished products.

The Business Climate Indicator (BCI) for the Euro Area declined by 0.29 points to -0.12 in July 2019, missing market expectations of 0.08. That was the lowest reading since September 2013, as managers’ assessments of past production, their production expectations, as well as their views on overall and export order books deteriorated. Only their assessment of the level of stocks improved.

The Business Climate Indicator (BCI) for the Euro Area declined to 0.17 in June 2019 from 0.30 in the previous month and below market expectations of 0.23. That was the lowest reading since October 2014, as managers’ production expectations, as well as their views on overall and export order books and the level of stocks deteriorated. Only the assessments of past production improved.