Business Climate Indicator for eurozone resumes upward trend

After a slight fall in May, the Business Climate Indicator (BCI) for the eurozone resumed its upward trend in June, the European Commission (EC) said on Friday.

In a press release, the EC, the executive arm of the European Union (EU), said the high level of the BCI suggests that industrial production growth has picked up during the second quarter of 2006, despite a decline in April.

According to the EC, the improvement in the BCI was mainly due to a marked increase in industry managers' assessment of the production trend observed in recent months.

While the assessments of total order books and export order books improved, managers' expectations regarding production in the months ahead decreased slightly.

"Furthermore, managers were somewhat more satisfied with their stocks of finished products," said the press release.

Source: Xinhua