Euro-Region Industrial Orders Unexpectedly Rise on Capital Goods

European industrial orders unexpectedly rebounded in August, as rising demand for capital goods such as excavators and metal-working machines helped offset a slump in durable consumer goods.

Orders in the 17-nation euro region rose 1.9 percent from July, when they fell 1.6 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast order growth to stall, the median of 17 estimates in a Bloomberg News survey showed. Orders jumped 6.2 percent from a year earlier.