The WSJ titles “Euro-Zone Data Sluggish” but ex-transport, the reality is that Eurozone new orders for industrial goods are exploding. Here is Eurostat’s release:
In January 2011 compared with December 2010, the euro area (EA17) industrial new orders index rose by 0.1%. In December 2010 the index grew by 2.7%. In the EU27, new orders increased by 0.2% in January 2011, after a rise of 2.9% in December 2010
Excluding ships, railway & aerospace equipment, industrial new orders increased by 1.6% in the euro area and by 1.9% in the EU27. This comes after 3 consecutive months of very strong orders. Since October 2010, industrial new orders ex-heavy transport equipment, have grown at a 20.5% annualized rate!