Research (Česká spořitelna)
Macroeconomics  |  January 08, 2013 10:13:23

Germany - the number of people out of work has increased, but the rate remains near record low

German unemployment has slightly increased (as the number of jobless people), but unemployment remains near record lows (after unification) - 6.9% in December 2012. German unemployment is so much change, it remains relatively stable. This is partly a consequence of the fact that many German companies (especially the so-called Mittelstand) thrown away often very skilled at the first sign of trouble, keep it (so it was in decline in 2009), even at the cost Kurzarbeit. While industrial production in 2H12 deteriorated towards the end but some indicators (IFO, industrial orders) began to denote stabilize and (in the case of IFO) a slight reversal of the trend.Household consumption, however, in Germany and EMU will not rise anytime soon - although the Germans are better than Spaniards, their historical prudence and thrift (they have one of the highest savings in the EU) Europe starts.

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