By Julien Ponthus, BridgeNews
Brussels--Feb. 5--The euro-zone business climate indicator retreated in January to 0.95 from 1.23 in December, the European Commission reported Monday.
The EU executive body said despite the January fall, the indicator's "level is still historically quite high." However, it added that the data also "confirms the downward trend registered last August," and that the fall "is in line with a slowing down in the growth of industrial production."
* * * In addition the Commission added that "the trend in the indicator points to good but more cautious confidence of industrial firms in the euro area."
The indicator reached a peek in June 2000 at 1.71 and has been constantly retreating since September 2000. End