FXstreet.com (Barcelona) - Industrial new orders have increased considerably in April, reversing largely previous month's losses, against the market analysts' expectations of a light increase, according to the latest report published by Eurostat.
In April 2008, industrial new orders have increased 2.5% from March, after a 1.2% downwardly revised decline posted in March. Year on year, industrial orders have increased 11.7%, after a 3.7% decline posted in March. April's figures have improved largely the 0.5% monthly decline and the 2.5% year on year increase expected by the analysts.
The largest contributor for the monthly increase has been the 5.6% increase on textiles and textile products, followed by the 3.2% increase on the orders for basic metals, and fabricated metal products. Year on year, new orders for machinery and equipment increased by 17.2% in the Euro Area, followed by the 16.7% increase on orders for manufacturing of electrical & electronic equipment.