FXstreet.com (Barcelona) - Orders for industrially produced goods have increased in August in the countries sharing the euro, pushed by orders of chemical products, reversing a sharp decrease on the previous month, according to data released by Eurostat.
Industrial new orders have risen 0.3% in August in the Euro Area, reversing a 2.6% decline posted in July, which has been revised up from the initially estimated 4.0% monthly decline.
By products, orders for chemicals have improved 2.4% on the month, together with a 0.2% increase on manufacturing of basic metals and fabricated metal products. On the negative side, manufacturing of textiles & textile products declined by 1.4, while electrical and electronic equipment decreased by 1.6% and Transport equipment fell by 2.9%. Machinery and equipment orders have remained unchanged.
On the year, industrial orders have increased by 5.1% in August, while July's yearly reading has been revised up to a 12.0% increase from the 10.9% previously estimated.