EU New Orders Down

     European area industrial new orders index fell by 2.4% in July over the previous month, according to statistics released this week. The numbers provide further evidence that the European economy is slowing down, after big jump in industrial orders a year earlier.

     Even one month earlier, in June, new orders had increased by the same measure of 2.4%.
     Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders fell by 0.6% in the euro area. In July 2010 compared with July 2009, industrial new orders grew by 11.2% in the euro area.

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