The appraisal of past production and production expectations, on the other hand, deteriorated, while there was no change in the assessment of the level of export order books.
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). The next BCI results are due to be published on 30 January 2014.
Full details of the Business Climate Indicator are available on the Europa website:
http://ec.europa.eu/economy_finance/db_indicators/surveys/index_en.htm
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