Investing.com – Industrial new orders in the euro zone tumbled in September, underlining fears that the region is slipping into a recession, official data showed on Wednesday.
In a report, Eurostat said that industrial new orders plunged by a seasonally adjusted 6.4% in September, outstripping expectations for a 2.7% drop.
Industrial new orders for August were revised down to a 1.4% gain, from a previously reported 1.9% increase.
The report showed that the annualized rate of industrial new orders in the euro zone rose 1.6% in September, significantly below expectations for a 6.1% increase, after rising at a rate of 5.9% in the previous month.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD slumping 0.38% to trade at 1.3453.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 rose 0.25%, France’s CAC 40 eased up 0.1%, the FTSE 100 shed 0.4%, while Germany's DAX edged 0.3% higher.
In a report, Eurostat said that industrial new orders plunged by a seasonally adjusted 6.4% in September, outstripping expectations for a 2.7% drop.
Industrial new orders for August were revised down to a 1.4% gain, from a previously reported 1.9% increase.
The report showed that the annualized rate of industrial new orders in the euro zone rose 1.6% in September, significantly below expectations for a 6.1% increase, after rising at a rate of 5.9% in the previous month.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD slumping 0.38% to trade at 1.3453.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 rose 0.25%, France’s CAC 40 eased up 0.1%, the FTSE 100 shed 0.4%, while Germany's DAX edged 0.3% higher.