BRUSSELS (AFX) - The euro zone's business climate indicator fell markedly to 0.95 in January from 1.23 in December, the European Commission said.
Though "still historically quite high," it "nevertheless confirms the downward trend registered since last August," the commission said. "The steady fall is in line with a slowing down in the growth of industrial production since last summer, which is still, however, hovering well above its 1986 and 2000 average. The trend in the indicator points to good but more cautious confidence of industrial firms in the euro area," it said.