Global Times - Eurozone industrial new orders rise in July

Eurozone industrial new orders rise in July

Source: Xinhua
[08:14 September 24 2009]
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Industrial new orders recorded a higher-than-expected increase in July in the 16-nation euro zone, official figures revealed on Wednesday.

On a month-on-month basis, industrial new orders rose by 2.6 percent in the euro area in July, compared with June, said the European Union (EU) statistics agency Eurostat.

The agency also revised up June's figure from an increase of 3.1 percent to 4.0 percent, compared with May.

In the 27-nation EU, new orders rose by 1.6 percent in July, after falling by 0.6 percent in June.

Excluding ships, railway and aerospace equipment, for which changes tend to be more volatile, industrial new orders in July grew by 3.1 percent in the euro area and 3.4 percent in the EU month-on-month.

However, the figures continue to be well down on a year ago.

Compared with the same month in 2008, industrial new orders in July decreased by 24.3 percent in the euro area and 24.9 percent in the EU. Total industry, excluding ships, railway and aerospace equipment, dropped by 23.4 percent in the euro area and 22.5 percent in the EU.

Among the various industries, new orders for durable consumer goods in July increased by 5.6 percent month-on-month in the euro zone and 6.9 percent in the EU, Eurostat said.

Capital goods were up by 2.9 percent in the euro zone, but fell by 1.8 percent in the EU. Intermediate goods rose by 2.8 percent and 4.1 percent, respectively, in the two regions.