| Author (Person) | Pignal, Stanley |
|---|---|
| Series Title | Financial Times |
| Series Details | 8.1.10 |
| Publication Date | 08/01/2010 |
| Content Type | News |
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The Economic Sentiment Indicator (ESI) rose once again in December 2009 to 92.0 (+4.1 points) in the EU and to 91.3 (+2.5) in the euro area. It has improved in both areas for nine consecutive months since its trough in March 2009, though it still remains below its long-term average. The Business Climate Indicator (BCI) for the euro area also improved further in December 2009 – its ninth consecutive monthly increase. But it remains at a low level, suggesting that year-on-year growth in industrial production was still negative in November. The significant increase in the BCI reflects an across-the-board improvement in managers' assessments: the perception of the production trend observed in recent months and order books went up strongly, while the rise in export order books and production expectations were not as pronounced. The declining level of stocks confirmed further destocking. |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
