Source:Insee
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JULY ORDER BOOKS sustained while Euro area's decline
22 SEPTEMBER 2011
Order books rose +0.9% month-on-month in July but total new orders mechanically fell -11.2% due to other transport equipment -77.4% dip, mainly aerospace boats and railway, following the previous month +303.4% leap. Consequently, new orders of Capital Goods decreased by -25.8% while Intermediate Goods benefited by ricochet from demand for its lead component and surged +1.8%. New orders of Durable Consumer Goods turned positive and grew +6.1% and Non Durable Consumer Goods +1%.
Export order books on the same period increased +2.9% as the Euro USD exchange rate stabilized at USD 1.42 http://www.banque-france.fr/index.htm New orders from the Euro area picked up and grew +5.6% but the month of July included Greece's call for a second bail-out, a total € 146 billion agreed upon during an EcoFIn emergency meeting, and may herald a full stop
for additional new orders this quarter despite lower stock levels among heavy players due to feeble demand.
Electric -electronic equipment-IT and machinery new orders index fell -2.1% due to IT electronic and optical equipment -13.3% drop (+18.3% the previous month) while electronic equipment +14.2% rise offset a bigger component decline. The Automobile Industry new orders performed equally and dipped -0.8% (+4.8% in June) while inversely new orders for other industries grew +2.4%.
Intermediate Goods clothing plunged -11.2% (-5.8% the previous month) while demand for textile picked up and rose +0.2% (from -5.6%). New orders of wood-paper and cardboard increased +1.3% and chemical products +3% (from -0.5%) while new orders of pharmaceutical products stayed sustained and increased over twofold to +4.3%. Demand for metal and metallic products climbed +3.2% (from -3.5%) and excluding metal for machinery and equipment +3.4% (from -0.6%).
The Euro area recorded -2.1% order books decline, and according to Eurostat figures, due to Capital Goods -2.5% dip while new orders of Intermediate Goods turned positive and rose +2.3% along with Durable Consumer Goods +5.1%. New orders of Non Durable Consumer Goods fell -0.1%. Germany and Spain posted the strongest contractions, respectively -3% and -5.2% but inversely new orders rose +0.6% in Italy. In the UK, the EU 27 fifth economic weight new orders rose +1.2%
In one year to July, France's new orders moved down to +8.3%, Germany's grew +11%, Italy's increased +8.8% and Spain's decreased by 1.9% New orders in the UK climbed to -0.5%. Per sector and in the Euro area, Capital Goods took the lead with new orders up by over two percentage points to +8%, followed by Durable Consumer Goods positive upturn to +3.8%. Capital Goods mechanically moved down to +11.4% and Non Durable Consumer Goods by one percentage point to +1.8%.
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