Germany said industrial orders at its factories surged by a surprisingly strong 3.8 percent in June, their largest monthly rise since October as contracts for big-ticket items jumped and euro zone demand rebounded.Manufacturing, which makes up around one fifth of Europe's biggest economy, struggled earlier this year but Tuesday's data, combined with a survey last week showing the sector expanded at its fastest rate in 1-1/2 years in July, offers some hope that it is regaining traction.
Britain's manufacturers reported their biggest annual rise in overall industrial production for over two years, adding to growth already seen in service sector activity, the housing market and in retail sales.The data showed a 1.1% month-on-month increase in industrial output,beating predictions of 0.6%
Italy's economy shrank by less than expected in the second quarter, adding to recent signs its slowdown is bottoming out.Gross domestic product marked its eighth straight quarter of contraction, dropping 0.2 percent on the quarter and 2.0 percent an annual basis, national statistics bureau ISTAT said on Tuesday.The quarterly slump was the smallest since early in a recession that began in the middle of 2011, and half as large as the 0.4 percent drop forecast by analysts in a Reuters survey.
That continued a run of encouraging data, and some analysts are predicting a return to very modest growth in the fourth or possibly the third quarter, tracking a gradual upturn forecast for other parts of the euro zone.
