Spain Industrial New Orders Rise After 16-Month Slump

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New orders received by Spanish industries grew 6.2% annually in December, following the 1.5% decrease in the preceding month, the country's National Statistics Institute said on Tuesday.

This marks the first annual increase in new orders since July 2008.

By economic destination of goods, new orders surged 28.2% in the capital goods component, while that in the energy component was up 20.2%.

At the same time, industrial turnover fell 2.9% annually, following the 3.9% decrease in the preceding month.

In the whole of 2009, industrial turnover slid 21.7% while new orders were down 22.1%.

New orders received by Spanish industries grew 6.2% annually in December, following the 1.5% decrease in the preceding month, the country's National Statistics Institute said on Tuesday. (Market News Provided by RTTNews)