Business Climate Indicator declined in April

The FINANCIAL — In April 2013, the Business Climate Indicator (BCI) for the euro area decreased by 0.18 points to 0.93.

While the assessment of the stocks of finished products remained broadly stable, all other components deteriorated (current order books (overall and export), past production, production expectations). 

The assessments of past production and overall current order books witnessed particularly sharp declines, according to European Commission.

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).