Euro zone industrial new orders rise less than expected
Financeroll – Industrial new orders in the euro zone rose less-than-expected in October, while September’s figure was revised down sharply, official data showed on Thursday.
In a report, Eurostat said that industrial new orders rose by a seasonally adjusted 1.8% in October, below expectations for a 2.5% gain. Industrial new orders for September were revised down to a 7.8% plunge, from a previously reported 6.4% decline, underlining fears that the region was slipping into a recession.
The report showed that the annualized rate of industrial new orders in the euro zone rose 1.6% in October, falling short of expectations for a 3.3% increase, after rising at a rate of 1.6% in the previous month. Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD slumping 0.8% to trade at a 15-month low of 1.2836.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 fell 1.05%, France’s CAC 40 declined 0.9%, the FTSE 100 shed 0.6%, while Germany's DAX slumped 0.6%. [FP/FR]
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