Euro zone March orders rise fastest in 10 years y/y

BRUSSELS, May 25 (BestGrowthStock) – Euro zone industrial new orders
rose in March at their fastest rate in 10 years, data showed on
Tuesday, giving a new sign that economic activity is likely to
pick up strongly in the second quarter.

The European Union’s statistics office, Eurostat, said
industrial new orders in the 16 countries using the euro jumped
5.2 percent month-on-month in the euro zone for a 19.8 percent
year-on-year rise.

The monthly rise is the highest since June 2007 and the
annual increase is the strongest in a decade.

Economists polled by Reuters had expected a 2 percent
monthly rise and a 14.6 percent annual gain.

Without the volatile orders for ships, planes and trains,
the monthly increase in orders was 4.5 percent and the
year-on-year jump was 20.2 percent.

Industrial new orders point to trends in economic activity
as they translate into production over the coming months.

Orders in the euro zone’s biggest economy, Germany, rose 5.7
percent on the month and surged 31 percent year-on-year.

The euro zone economy grew only modestly in the first
quarter after stalling in the fourth, but stronger than expected
March industrial output also suggested economic activity was
picking up.

Economists have said euro zone growth is likely to
accelerate to 0.5 percent in the second quarter after 0.2
percent growth in the first three months of the year and
stagnation in the last three months of 2009.

For a table on the data, double-click on [ID:nBRQ009853]


(Reporting by Jan Strupczewski and Marcin Grajewski, editing
by Timothy Heritage)

Euro zone March orders rise fastest in 10 years y/y