European factory orders slump as economy slows

Berlin - Europe factory orders slumped sharply in May, data released Wednesday showed, led by falling demand for electronic equipment and manufacturing goods.

The European Union's statistics office, Eurostat, said new industrial orders for the 15-member eurozone fell by 3.5 per cent month-on-month in May after rising by 2 per cent in April. The latest figures added to signs of slowing economic growth in the region.

At the same time, the data showed order books in the 27-member EU contracting by 4.7 per cent in May after chalking up a 3.6 per cent increase in April. (dpa)

Business News: 
Regions: