First growth since beginning of crisis
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.