Eurozone industrial new orders rose less than expected in April, data showed, pointing to slower economic growth in the second quarter, but economists said it was unlikely to stop the next ECB interest rate rise. The European Union's statistics office Eurostat said industrial new orders in the 17 countries using the euro rose 0.7 percent month-on-month in April for an 8.6 percent year-on-year increase.
Excluding volatile orders for ships, planes and trains, orders fell 0.6 percent month-on-month and were 7.3 percent higher year-on-year. Industrial orders later translate into industrial production, which is a key component of gross domestic product. The eurozone economy grew 0.8 percent quarter-on-quarter in the first three months of this year, but economists expect growth will halve in the second quarter.
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