Eurozone industrial new orders picked up by 1.7% in May

July 26, 2007 - 0:0

The eurozone industrial new orders picked up by 1.7 percent in May, compared with the previous month, the European Union's statistics bureau Eurostat said.

The index declined by 0.6 percent in April, according to revised figures from Eurostat. Excluding ships, railway, and aerospace equipment, industrial new orders increased by 1.3 percent in May in the 13-nation bloc sharing the same currency. In May, new orders for machinery and equipment recorded the largest monthly increase of 4.8 percent, while transport equipment and manufacturing of electrical and electronic equipment rose by 3.9 percent and 1.8 percent respectively. Meanwhile, manufacturing of chemicals and chemical products registered the biggest drop of 0.6 percent, followed by 0.3 percent decrease of textiles and textile products. The index for basic metals and fabricated metal products declined by 0.1 percent. Compared to a year ago, industrial new orders increased by 9.1 percent in the eurozone. In the 27-nation EU, industrial new orders gained 3.2 percent in May against a month ago and 10.2 percent compared with May 2006. Among the member states for which data were available, total manufacturing working on orders rose in seventeen countries and fell in three. The highest monthly increase was recorded in Latvia, which was 22.0 percent. Industrial new orders in Ireland registered the largest drop of 9.7 percent. The index in Germany, the biggest economy within the EU, grew by 4.2 percent. (Source: Xinhua