BRUSSELS, March 30 (Reuters) - The 16-country euro zone's business climate declined to an all-time low in March, pointing to shrinking industrial production in the first quarter of 2009, European Commission data showed.
The Business Climate Indicator (BCI), which helps establish the phase of the business cycle, fell to -3.58 points from a revised -3.40 in February, hitting its lowest since measurements started in 1985.
Analysts polled by Reuters had expected the indicator to be at -3.48.
"It points to another markedly negative outcome for year-on-year industrial production growth in February, after the record fall registered in January," the Commission said.
"Given the current levels, it also suggests that industrial production growth will remain clearly subdued in March," it added. (Writing by Marcin Grajewski, editing by Dale Hudson)