Description of node <>

Subject Predicate Object <p>The composite business climate indicator describes the common component of the selected balances of opinion on companies' general prospects for their sector, past activity, forecast activity, judgement of order books, past work force and inventories.<br /> The turning point indicator aims to detect as early as possible when the outlook trend changes direction. This is a qualitative variable which is not directly observed. The indicator is presented in the form of a curve, retracing for each date the difference between the probability that the cyclical phase is favourable and the probability that it is unfavourable.</p>