The Business Climate Indicator increases by a significant 3.4 index points in February, reaching a value of 104.7 points. Only once in the past ten years the industry has reported a higher increase within one month. The driving force behind this significant improvement is a more positive assessment of the current situation in all three material groups - steel, ferrous and non-ferrous.
Such a dynamic improvement gives reason to be optimistic about a robust recovery, although despite these very positive assessments by European foundries, the further development remains uncertain. While discussions about easing restrictions may have strengthened the industry's outlook in some countries last month, the infection figures are already on the rise again in many regions. Also, in some European countries, the recent discussions about vaccines and delays in their distribution will only be reflected in the upcoming sentiment analysis.
Meanwhile, the good figures of the European foundry industry are supported by the broad economic recovery in the Eurozone, as the Business Confidence Indicator (BCI) continues to recover. With an increase of 0.2 points, the index has risen for the ninth month in a row.
Please find the chart enclosed or combined with additional information at www.caef.eu.
