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Factory orders down in Europe

BRUSSELS, Jan. 24 (UPI) -- New factory orders fell by 1.3 percent in the eurozone and 1.4 percent in the European Union in November compared with October, Eurostat said Tuesday.

New orders for the 17 eurozone member states were off 2.7 percent in the eurozone and off 1.2 percent in the EU compared with November 2010, the statistical office said.

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Orders dropped sharpest month-to-month in Sweden, down 6.1 percent, Germany, down 5 percent, and the Netherlands and Hungary, each down 3 percent.

Latvia posted the highest month-to-month gain with a 23.2 percent increase in new orders, followed by Ireland, where orders rose 14.5 percent. The third-largest gain was in Romania, with orders up 6.3 percent.

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