03/12/2008 (Agence Europe) - In November, the Business Climate Indicator (BCI) for the euro area fell more markedly this month than last, and now stands close to values last observed in 1993. The continued steep decline of the indicator signals a deteriorating trend in year-on-year industrial production growth, which is likely to continue to be negative even in the fourth quarter. Similarly, the November Economic Sentiment Indicator (ESI) declined considerably in the EU and the euro area. This came after another sharp decline in sentiment observed in the October survey. This time it fell by 6.7 points in the EU and by 5.1 points in the euro area, to 70.5 and 74.9, respectively. The ESI for the EU stands at its lowest since January 1985. (A.B./transl.rh)