Drop in euro zone industrial orders

European industrial orders unexpectedly fell in June as slower growth in Germany and a slump in Spain offset a surge in France.

Orders in the euro zone slipped 0.7 per cent after rising 3.6 per cent in May, the European Union's statistics office in Luxembourg said today.

Industrial orders in Germany rose 1.2 per cent in June after a 1.9 per cent increase a month earlier, today's report showed. Spain posted a 1.5 per cent decline after 4.2 per cent growth a month earlier, while French orders soared 13.8 per cent.

Euro zone orders for intermediate goods dropped 5.3 per cent in June after a 2.8 per cent increase a month earlier. Orders for durable consumer goods slipped 3.4 per cent, while those for capital goods rose 4.1 per cent.

Total orders excluding heavy transport equipment such as ships and trains fell 3 per cent.

Bloomberg