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Euro zone industrial orders race ahead

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Euro zone industrial orders race ahead

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New industrial orders in the euro zone rose at their fastest rate in 10 years in March.

They jumped 5.2 percent month-on-month and were up almost 19.8 percent year-on-year.

The European Union’s statistics office said the increase was driven by orders for ships, planes and trains.

It is a further sign that the region’s economic activity is likely to pick up strongly in the second quarter.

Orders in the biggest euro zone economy, Germany, rose 5.7 percent on the month and surged 31 percent year-on-year.