Euro zone industrial new orders fell less than expected on the month in September, following sharp rises in the previous two months, but analysts said the volatile data series would have no impact on monetary policy.
European Union statistics office Eurostat said today industrial new orders fell 1.3 per cent on a monthly basis against market expectations of a 2.0 per cent decline.
They rose 7.6 per cent year-on-year, below forecasts of 10.4 per cent. Stripping out orders for ships, trains and aircraft, overall orders fell 2.0 per cent month-on-month and grew even less in annual terms, by 5.4 per cent.
New orders had risen 3.8 per cent in August and 2.0 per cent in July month-on-month. The figures give an indication of industrial production in a few months' time.
Analysts said the latest data would do little to alter the European Central Bank's view of the robustness of the euro zone economy.
The European Commission and ECB expect growth in the 12-nation euro zone to reach 2.5-2.6 per cent this year.
The ECB is widely expected to raise interest rates by 25 basis points to 3.5 percent in December to stem medium-term inflationary pressures as the economy and money supply grow.
Some analysts believe it will raise rates once more in early 2007 but then pause to gauge the extent of an expected economic slowdown due to higher interest rates, tighter fiscal policy in the euro zone and slower global growth.