LUXEMBOURG (Dow Jones) – New orders in industry in the euro area has disappointed in July, which was recorded in a single month particularly in capital goods, a significant decrease. In total manufacturing working on orders received 2.4% less than last month , as the European statistics agency Eurostat said on Wednesday . ( Reuters photo 🙂
This is the biggest drop since December 2008. Economists had expected a fall of only 1.6%. In June, the order input was revised in a single month by 2.4 % (preliminary : plus 2.5%) increased. In May , an increase was recorded at 4.2 %.
Compared to the same month last year , new orders rose in the euro area in July by 11.2 % following a revised 22.7 % (preliminary : in the plus 22.6%) in June . Economists had forecast a rise of 16.3%.
Across the EU , new orders fell in July in a single month by 2.3 % after a revised rise of 2.5% ( provisional: plus 2.4%) in June. Compared to last year they rose by 12.5 % after a revised gain of 22.7 % ( provisional: the plus 22.5% ) Of June.
Compared to the previous month fell , new orders for capital goods by 5.1 % in the euro area and EU -27 by 5.7 %. Durable consumer goods fell by 3.2% and 1.7%. Intermediate goods fell in the euro area by 0.1 % but increased in the EU -27 by 0.5 %. The orders for durable consumer goods rose by 0.5 % and 0.3 %.
Compared with July 2009, orders increased intermediate goods by 18.2 % in the euro zone and EU -27 by 18.9 %. Capital goods showed an increase of 8.3 % and 10.9%. Durable consumer goods rose in the euro area by 1.9 % and EU27 GDP by 1.1 %. The orders for durable goods were in the euro area fell by 1.0% , but increased in the EU at 3.5%.
DJG / sgs / apo / voi