Investing.com – Industrial new orders in the euro zone dropped unexpectedly in June, official data showed on Wednesday.
In a report, Eurostat said that industrial new orders fell by a seasonally adjusted 0.7% in June, after jumping 3.6% in May.
Analysts had expected industrial new orders to rise by 0.4% in June.
The report showed that the annualized rate of industrial new orders in the euro zone rose 11.1% in June, below expectations for an 11.9% increase.
The previous month’s figure was revised down to 13.8% from a previously reported 15.5%.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD edging up 0.18% to hit 1.4467.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 0.8%, France’s CAC 40 jumped 0.95%, the FTSE 100 gained 0.35%, while Germany's DAX advanced 1.1%.
In a report, Eurostat said that industrial new orders fell by a seasonally adjusted 0.7% in June, after jumping 3.6% in May.
Analysts had expected industrial new orders to rise by 0.4% in June.
The report showed that the annualized rate of industrial new orders in the euro zone rose 11.1% in June, below expectations for an 11.9% increase.
The previous month’s figure was revised down to 13.8% from a previously reported 15.5%.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD edging up 0.18% to hit 1.4467.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 0.8%, France’s CAC 40 jumped 0.95%, the FTSE 100 gained 0.35%, while Germany's DAX advanced 1.1%.