FXstreet.com (Barcelona) - Good news for the Euro Zone's industrial sector, as industrial new orders have increased sharply above expectations in November fuelled by remarkable increases in transport equipment and metal products, according to the latest report published by Eurostat.
Industrial new orders have risen 2.7% in November from October, following a 2.5% rise in the previous month. November's increase has surpassed the experts' forecasts of a 1.2% improvement.
On the year, orders increased 11.9%, above the 10.9% yearly rise posted in October, and also above the 9.0% increase expected by the analysts.
The monthly change has been fuelled by the 7.3% increase on transport equipment and the 5.8% increase on the orders for basic and manufactured metal products. On the year, orders for transport equipment rose 28.7% in the Euro Area and basic and manufactured metal products orders rose 10.1%, followed by the 9.2% increase on machinery and equipment.