Euro zone industrial new orders grew more than expected in October amid volatile purchases of transport equipment, data showed today.
European Union statistics office Eurostat said orders in the 13 countries using the euro increased 2.5 per cent month-on-month and rose 10.9 per cent year-on-year.
Eurostat also revised its September data upwards to a fall of of 1 per cent from the previous month and an annual increase of 2.4 per cent, versus the previously reported fall of 1.6 per cent monthly and the increase of 2.0 per cent year-on-year.
Without volatile orders for transport equipment, industrial orders gained 1.9 per cent on the month in October and rose 9 per cent on the year.
New orders give an indication of future industrial production and overall economic activity, which in turn may impact the monetary policy of the European Central Bank.
Transport equipment orders rose the most in all categories - by 8.6 per cent month-on-month and 22.3 per cent year-on-year.
The only monthly fall, of 0.8 per cent, came in machinery and equipment, which are often exported.