FXstreet.com (Barcelona) - Demand for industrial goods produced in the countries of the Euro Zone has decreased in December at a larger extent than expected due to a large decline in orders for durable goods such as ships, railway and aerospace equipment, as the latest report by Eurostat shows.
New orders have decreased by 3.6% from November to December in the Euro Zone, instead of the 1.1% expected by market analysts, a decrease that follows a 2.0% rise posted in November, which, itself, has been revised down from the initially estimated 2.7% rise.
One of the main reasons of this monthly decrease has been the 10.0% monthly fall in transport equipment orders, which increased 5.7% on the previous month, excluding ships, trains and aeroplanes, orders have fallen by 0.8%. Other remarkable decrease has been posted by basic metals and fabricated metal products which declined 4.0% after a 4.4% rise in November.
On the year, orders have increased 2.1%, sharply below the 8.3% rise expected, excluding ships, railway and aerospace equipment, orders have posted a 3.3% increase. November's increase has been revised down to 11.4% from the initial 11.9%.
The average new orders have increased 8.2% in the whole 2007; down from the 9.1% rise posted in the year 2006.