EU industrial new orders up 2%

Ireland recorded the biggest decrease in manufacturing orders in the European Union in August, according to new figures.

Eurostat data released this morning indicates that industrial new orders in the euro zone rose 2 per cent from July to August and were up by 1.2 per cent in the EU27, according to new Eurostat figures.

Over the year to the end of August, industrial new orders decreased by 23.1 per cent in the euro zone and by 22.3 per cent in the European Union as a whole.

Total industry excluding ships, railway & aerospace equipment dropped by 22.7 per cent in the euro area and by 22.2 per cent in the EU27.

The higest increases in total manufacturing orders occurred in Slovakia, the Czech Republic and France. The largest decrease was recorded in Ireland, down 14.6 per cent and Poland, down 10.6 per cent.

New orders for intermediate goods rose by 3.8 per cent in August in the euro zone and by just 0.5 per cent for the European Union as a whole, according to Eurostat.

Capital goods fell by 0.3 per cent in the euro zone during the month, but grew by 2.1 per cent in the EU27. Meanwhile, durable consumer goods dropped by 1.6 per cent in the euro zone and by 0.4 per cent in the European Union as a whole.

Non-durable consumer goods decreased by 2.5 per cent and 1.5 per cent respectively.

Over the year to the end of August, new orders for non-durable consumer goods were down by 7.7 per cent in the euro zone and by 4.9 per cent in the European Union as a whole.

Durable consumer goods declined by 18.5 per cent in the Euro zone from August 2008 to August 2009 and dropped 10.5 per cent for the EU27.

Intermediate goods dropped by 25.3 per cent in the euro zone and by 24.8 per cent in the European Union as a whole over the year while capital goods decreased by 25.7 per cent and 25.3 per cent respectively.

Total manufacturing working on orders fell in all Member States for which data are available with the largest falls recorded in Lithuania, Finland and Estonia.