Euro zone industrial orders revealed signs of distinctly

Euro zone industrial orders in June than in the previous month, and distinctly increase far exceeded expectations, which means that the European economy in a continuous decline in five quarters, showed signs of recovery.

According to Taiwan joint news network message, Eurostat published on 24 may, 6 months in the euro area industrial new orders than in the previous month increased 3.1% over the same period last year was the recession 25.1%.

This result is far better than analysts expected, Reuters interview with the analyst, the original estimates than 1.5% year recession 28.9%.

Fortis Bank economist Corning Reith said: "the global economic upturn had finally begun to enter the euro area industrial park block, we believe that the euro zone and the overall economy will be in reply to growth in the third quarter. ”

Credit crunch global economic setback, contains the 16 countries of the euro area economy in 2008 of the second quarter of negative growth. This year's second quarter gross domestic product (GDP) atrophy 0.1% amyotrophy amplitude than 2.5% in the first quarter narrowed significantly.

Industrial orders data to strengthen the euro exchange rate of the euro against the US dollar in which 24 may spare turned up.

Euro against the US dollar exchange rate in New York early trading Forex margin 0.09%, rising to 1 EUR/USD 1.4339.

But the Corning thinking that this data is not for the ECB's interest rate policy to give new direction for the euro area industrial new orders June rebound trend may already be in Germany may occur in industrial orders data.

But think also that Corning this data further confirmed that the euro area economy has now warm in the back.

6 month industrial orders picked up immediately following the 4, 5, two months of continuous decline. Eurostat, the 5-month industrial new orders up than drop to 0.5%, year or also to 30.3%.

6 month industrial orders mainly benefited from strong demand for capital assets or 5.6%. Non-durable consumer products order money also 3.1%. Parts and other intermediate products and consumer durable fiscal order remains the same, namely to reduce 0.9% and 3.5%.

To eliminate fluctuations in larger vessels, aircraft and train orders, the euro area industrial new orders June month than still increase 1.9%; the year than 26.7% less than in May and June the over 30%.

The remaining data also show that Europe has started to come out since the second world war the worst of the recession.

August Germany services and France are unexpected expansion of manufacturing boom, show the two large euro area economies, domestic demand revival in the euro area economy, and enhanced recovery efforts.

ECB President Trichet last weekend to participate in the United States the Federal Reserve Board's annual meeting, said that the indication of the real economy of bottomless fall has begun to abort, but he warned there recovery "numinous".