Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 31, 2013 11:23:43

- German unemployment unexpectedly fell in January for the first time after 10 months on the 20-year minimum


The registered unemployment rate in Germany in January dropped to 6.8% and reached a 20-year lows. The number of people out of work fell by 16,000 to 2.92 million. Market while generally counted with growth of 8,000 persons.

By some estimates, unexpected growth due to improved business confidence and increased optimism about its future development. Index of activity in services grew at 19měsíční maximum. The comments, however, also echoes that improvement could only be a one-off and will be difficult to maintain in other months of the year. Estimated market rather slow and gradual improvement.

The German economy in 2012 grew by 0.7% compared to 3% in 2011. Bundesbank estimates that this year the GDP will grow by only 0.4% compared to the contraction of the entire eurozone at 0.3%.

According to the comments, the German labor market in relatively good shape, salaries remain relatively robust and inflationary pressures are diminishing. Real incomes are increasing, the domestic economy remains relatively strong.
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