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Euro orders down on transport slump

Official figures show that factories in the euro zone saw demand pull back in July as orders for transport equipment plunged.

New industrial orders tumbled 4% in July from June, though there was annual growth of 10.9%, the  EU's Eurostat data agency said. Economists had expected new orders to fall 3% in the month.

The result, which was driven by a drop in often volatile orders for transport equipment, marked a slowdown from June when new  industrial orders rose 4.5%.