Eurozone factory orders rise
Nov 24, 2009
BRUSSELS - FACTORIES in the 16-nation eurozone reported a rise of new orders in September, although more recent data has suggested economic recovery in Europe may be peaking.
Industrial new orders compared to August 2009 rose by 1.5 per cent in the euro area after a 0.6 per cent increase the previous month, according to figures released on Tuesday by the European Union's statistics agency.
However, when the volatile ships, railway and aerospace equipment sectors are stripped out, the increase turned into a decrease of 1.2 per cent.
New orders for durable consumer goods such as fridges and televisions rose by 1.5 per cent in the eurozone, with capital goods orders up 3.7 per cent and non-durable consumer goods orders rising 1.5 per cent.
Across the 27-nation EU as a whole, which includes Britain and Poland, new orders were up 1.7 per cent - but only down 0.6 per cent when ships, railway and aerospace equipment were taken out of the equation.
Overall orders were down by more than 16 per cent across the EU compared to one year earlier.
Private sector business activity across the eurozone grew at the fastest rate for two years in November, but sent signs that growth may be 'peaking,' a survey showed on Monday.
Europe officially shook off its deepest downturn since World War II in the third quarter, but with growth lower than expected. -- AFP
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