In October, the European Foundry Sentiment Indicator (FISI) increases for the first time since the beginning of the Corona pandemic. The FISI rises by 0.7 points to a level of 99.9 points. While European foundries are again reporting a slightly negative trend in their assessment of the current business situation compared with the previous month, the increase of the FISI results from the significantly better business expectations for the next six months.
Meanwhile, the Business Confidence Indicator (BCI) continues to rise from -1.2 to -0.7 points. While the October data on the one hand only partially reflect the drastically increased infection numbers in Europe due to the dynamics of the past weeks, the latest reports on possible vaccines are also not yet included in the expectations. Furthermore, the results of the US elections have been announced after the reporting deadline.
The FISI – European Foundry Industry Sentiment Indicator – is the earliest available composite indicator providing information on the European foundry industry performance. It is published by CAEF the European Foundry Association every month and is based on survey responses of the European foundry industry. The CAEF members are asked to give their assessment of the current business situation in the foundry sector and their expectations for the next six months.
The BCI – Business Climate Indicator – is an indicator published by the European Commission. The BCI evaluates development conditions of the manufacturing sector in the euro area every month and uses five balances of opinion from industry survey: production trends, order books, export order books, stocks and production expectations.
Further information at www.caef.eu.