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. Business Confidence in the Euro Area averaged 0 Index Points from 1985 until 2019, reaching an all time high of 1.63 Index Points in January of 2018 and a record low of -3.31 Index Points in March of 2009.

Business Confidence in Euro Area is expected to be 0.19 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Euro Area to stand at 0.51 in 12 months time. In the long-term, the Euro Area Business Climate Indicator is projected to trend around 0.75 Index Points in 2020, according to our econometric models.

Euro Area Business Climate Indicator
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-27 09:00 AM Business Confidence Jun 0.17 0.30 0.23 0.25
2019-07-30 09:00 AM Business Confidence Jul -0.12 0.17 0.08 0.08
2019-08-29 09:00 AM Business Confidence Aug 0.11 -0.11 0.08 -0.2
2019-09-27 09:00 AM Business Confidence Sep -0.22 0.12 0.11 0.19
2019-10-30 10:00 AM Business Confidence Oct -0.22 -0.32
2019-11-28 10:00 AM Business Confidence Nov -0.16


Euro Area Business Last Previous Highest Lowest Unit
Business Confidence -0.22 0.12 1.63 -3.31 Index Points [+]
Services PMI 51.60 53.50 58.30 39.20 Index Points [+]
Manufacturing PMI 45.70 47.00 60.60 33.50 [+]
Composite Pmi 50.10 51.90 58.80 45.70 Index Points [+]
Industrial Production -2.80 -2.10 9.70 -21.40 percent [+]
Industrial Production Mom 0.40 -0.40 3.30 -4.00 percent [+]
Manufacturing Production -2.70 -2.20 10.00 -21.70 percent [+]
Capacity Utilization 81.90 82.80 85.30 69.60 percent [+]
Changes In Inventories 7.71 7.61 27.72 -24.53 EUR Billion [+]
Zew Economic Sentiment Index -23.50 -22.40 89.90 -63.70 [+]
Car Registrations 1047.68 946.33 1139.02 673.29 Thousand [+]
Industrial Sentiment -8.80 -5.80 10.20 -37.70 [+]
Mining Production -4.90 -6.60 42.30 -27.80 percent [+]
Services Sentiment 9.50 9.20 35.30 -25.20 [+]


Euro Area Business Climate Indicator

In Euro Area, the Business Climate Indicator measures the current situation of the businesses and its future prospects. The survey is made by phone and covers 23 000 companies in the Euro Area. The questionnaire focuses on: production trends in recent months, order books, export order books, stocks and production expectations. The indicator is computed through the estimation of a factor-model and summarises the common information contained in the surveys. A rise in the indicator will point to an upswing in activity and an improvement in the business climate. This page provides the latest reported value for - Euro Area Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Business Climate Indicator - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.22 0.12 1.63 -3.31 1985 - 2019 Index Points Monthly
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Country Last Previous
Australia 0.00 Sep/19
Brazil 59.40 Sep/19
Canada 48.70 Sep/19
China 49.80 Sep/19
Euro Area -0.22 Sep/19
France 102.00 Sep/19
Germany 94.60 Sep/19
India 112.80 Sep/19
Indonesia 108.81 Jun/19
Italy 98.80 Sep/19
Japan 5.00 Sep/19
Mexico 50.30 Sep/19
Netherlands 3.30 Sep/19
Russia -2.00 Sep/19
Saudi Arabia 3.00 Jun/16
Singapore -11.00 Jun/19
South Africa 21.00 Sep/19
South Korea 71.00 Sep/19
Spain -5.30 Sep/19
Switzerland 93.20 Sep/19
Turkey 98.80 Sep/19
United Kingdom -32.00 Sep/19
United States 47.80 Sep/19


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