The European Commission (EC) reported on Thursday the Eurozone’s Business Climate Indicator (BCI) edged down 0.03 points to -0.23 in November from a revised -0.20 in October (originally -0.19). Economists had forecast the indicator to increase to -0.14.

While managers’ assessments of overall order books and, in particular, past production deteriorated, their production expectations and assessments of the stocks of finished products improved, the report said. At the same time, managers’ assessment of their export order books remained broadly stable.