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Strong industrial orders in euro zone

Strong industrial orders in euro zone
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New industrial orders in the euro zone rose much more strongly than expected in monthly terms in August rising 5.3 percent from July.

They also registered their highest ever increase year-on-year 24.4 percent.

The data from the European Union’s statistics office Eurostat point to robust investment and industrial output in the coming months in the 16 countries sharing the euro.

Eurostat also revised upwards the orders data for July.

The figures were boosted to some extent by volatile orders for ships, planes and trains, but even without them the monthly rise in orders from industry was 4.1 percent and the year-on-year number was 23.5 percent.