EUROZONE INDUSTRIAL NEW ORDERS +3.6% IN MAY

Positive economic news are pretty rare these days, so here is one from Eurostat just before the weekend:

The euro area (EA17) industrial new orders index rose by 3.6% MoM in May, after falling by 0.1% in April. In the EU27 new orders gained 2.5% in May 2011, after an increase of 0.3% in April.

Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders grew by 3.0% in the euro area and by 2.5% in the EU27. They hade declined by 0.1% and 1.1% in March and April respectively in the EU17.

The weak area remains new orders for Durable Consumer Goods which declined 2.2% MoM. This series is down 4.7% between March and May.

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