EMU industrial new orders up on month, above forecasts

By IBTimes Staff Reporter | January 22 2010 5:30 AM

FXstreet.com (Barcelona) - Industrial new orders for the European Monetary Union grew a surprising 1.6% for the month of November of last year. This marks a significant jump over a 2.2% contraction the previous month and betters market expectations of more modest growth in the range of 0.7%.

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In year-over-year terms, industrial new orders for the Euro-Zone are still in negative territory at -1.5% for November. This result is a significant improvement over the -14.5% annual rate for October.

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