Eurozone Factories Show Rebound

March 26, 2008
New industrial orders increase in 15 national Eurozone

Factories in the 15 nations sharing the euro saw demand rebound in January much more strongly than economists had expected, official EU data showed March 26. Overall new industrial orders in the eurozone surged by 2% in January from the December level and jumped 7.3% over the same month in 2007, the European Union's Eurostat data agency said.

January's strength was driven by a 6.2% jump over one month in volatile orders for transport equipment although machinery and other equipment also saw strong demand, up 2.4%.

The result far exceeded economists' forecast for orders to dip 0.5% over one month and rise 4.5% from January 2007 as polled by Thomson Financial.

It also marked a rebound from a soft spot in December when orders dropped 3.6% over one month and increased 2.2% over one year.

There has been widespread worry among politicans in Europe about the effect of the strong euro, which has risen against the dollar and other currencies, on the competitiveness of European companies.

Meanwhile in the 27-nation EU new industrial orders eased 1% in January and rose 6.7% over one year. Cyprus and Malta adopted the euro currency in January swelling the ranks of the eurozone to 15 nations.

Copyright Agence France-Presse, 2008

Popular Sponsored Recommendations

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

Machine Learning and Predictive Analytics Guidebook for Engineers

Sept. 27, 2023
Leverage Domain Expertise to Drive Optimization – Without Needing a Data Scientist.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!