The Business Climate Indicator (BCI) for the euro area from the European Commission went up again in November to 0.96 from 0.91 in October and is at its highest since December 2007. The increase is mainly due to better export order books and optimistic production expectations.
The Economic Sentiment Indicator (ESI) for November also increased in both the euro area and the EU27. The main contributor to the increase was sentiment in services which increased by 2.1 to 10.2 in the euro area and 3 to 7.8 in the EU27. Most reported increases in demand and business situation over the last quarter. The ESI in the euro area was at 105.3 and in the EU27 at 105.2.
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