Order volume to European industry down

In August this year the order volume of industry in the Eurozone (EZ15) was down by 1.2% as compared to the previous month. In June and July the order volume had still increased by 2.0%. In the EU27 the order volume fell by 1.4% in August following an increase by 2.9% in July.

This smaller order volume is particularly due to the developments in the fields of ship building, rail vehicle construction as well as air and space craft construction. Not taking into account the developments in these industrial sectors the order volume would have increased by 0.6% in the Eurozone and by 2.0% in the EU27.

As compared to August 2007 the order volume index for industry fell by 6.6% in the Eurozone and by 6.7% in the EU27 in August 2008. Without taking into account the above mentioned industrial sectors the reduction in the order index was 7.5% in both regions.

Monthly changes

In August 2008 incoming orders to mechanical engineering and plant construction increased by 2.3% in the Eurozone and by 5.6% in the EU27. For electrical and electronic products the respective figures were +1.1% and -0.9%. For the metal processing industry the order volume increased in both regions by 0.3% and 0.5% respectively while in the chemical industry there was a decrease by 0.5% in the Eurozone and by 1.0% in the EU27. For the textile and clothing industry the respective figures were -6.5% and -3.5% and for car manufacturing -10.6% and -10.7%.

There was an increase of the order volume index in five EU member states and a decrease in fourteen of them. The most important increases in the order volume index were registered in Ireland (+7.2%), Latvia (+6.7%) and Germany (+3.3%). The most important reductions in Bulgaria (-11.0%), Greece (-10.0%), Estonia (-7.4%) and France (-7.2%).

Yearly changes

In comparison to August 2007 incoming orders fell by 1.8% in the chemical industry in the Eurozone and by 0.7% in the EU27 in August 2008. For the metal processing industry the respective changes were -3.1% and -2.1%. With regard to electrical and electronic products the changes were -5.2% in the Eurozone and -7.1% in the EU27. In mechanical engineering and plant construction the order volume index fell by 8.0% and -8.5% respectively. In car manufacturing the changes were -13.7% in the Eurozone and -13.5% in the EU27 and in the textile and clothing industry -19.5% and -18.2%.

In four EU member states there was an increase in the order volume index in August this year as compared to last year and in fifteen it fell. The index increased most in Latvia (+29.1%) and Romania (+16.1%). It fell most in Sweden (-14.8%), France (-14.4%), Spain (-12.3%) and Denmark (-11.6%). GERMAN