European Industrial New Orders Slip in May

ForexTV reports:

Eurozone industrial new orders dropped 0.2% in May from the previous month, following a revised 0.7% decrease in April, the Eurostat report revealed Wednesday. Economists were looking for a monthly growth of 1.9%.

Excluding ships, railway and aerospace equipment, for which changes tend to be more volatile, orders slipped 0.3% on a monthly basis and 30.2% annually.
Compared to May 2008, industrial new orders were down 30.1% in the euro area. The rate of decline for April was revised to 35.3% from 35.5%.

Economists were expecting a 27.9% decrease for May.Eurozone industrial new orders dropped 0.2% in May from the previous month, following a revised 0.7% decrease in April, the Eurostat report revealed Wednesday.

Source: Eurostat