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Home >> Business
UPDATED: 08:07, March 01, 2006
Eurozone business climate indicator at five-year high in February
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The business climate indicator for the eurozone reached its highest level in five years in February, said the European Commission, the executive body of the European Union, on Tuesday.

The indicator resumed its upward trend in February after a marginal decline in January.

The indicator has been above its long term average since September 2005.

The improvement of the indicator suggests that industrial production growth has picked up further since the start of this year, said the commission.

The increase of the indicator was largely due to a rise in industry managers' assessment of the production trend observed in recent months, said the commission.

The assessment of total order books and export order books also improved. Managers' production expectations for the months ahead, as well as their assessment of stocks of finished products, improved only marginally.

The business climate indicator is composed on the basis of a monthly industry survey.

Source: Xinhua

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