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Leadership
Signs of recovery in EU manufacturing
23.09.2009
Industrial new orders in the EU member states rose by 1.6pc in July, following a 0.6pc decline in June, Eurostat figures show. In the eurozone, the increase was higher – at 2.6pc in July.
If you exclude ships, railway and aerospace equipment, for which changes tend to be more volatile, industrial new orders grew by 3.1pc in the euro area and 3.4pc in the EU27.
There has been a big drop year-on-year however. Industrial new orders fell by 24.3pc in the euro area and by 24.9pc in the EU27.
In July 2009 compared with July 2008, new orders for non-durable consumer goods fell by 4.5pc in the euro areaand by 3.7pc in the EU27. Durable consumer goods declined by 13.1pc and 6.9pc respectively. Intermediate goods dropped by 27.3pc in the euro area and by 26.1pc in the EU27. Capital goods decreased by 27.7pc and 29.6pc, respectively.
Ireland didn’t suffer as much as other member states in terms of total manufacturing working on orders. It recorded a drop of 11.6pc, compared with 35.2pc in the UK, 40.7pc in Estonia and 38.5pc in Lithuania.
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