Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 28, 2013 11:23:35

Germany - Unemployment in February and again unexpectedly dropped


According to statistics from the German Federal Labour Office, the number of unemployed in February, seasonally adjusted decreased by 3,000 people to a total of 2.92 million. Market while estimated that there will be no change from the January data. The unemployment rate remained flat at 6.9%. The January figure was upwardly revised from 6.8% pre-notified.

Decrease in the number of unemployed suggests or confirms signs of renewed growth after a brief contraction at the end of last year.

Bundesbank said last week that the 1Q of this year, the newly estimated recovery in GDP growth following a decline of 0.6% in Q4 of last year. Business confidence rose in February to the maximum 10-month, consumer confidence has moved to 3 years maximum.
It is estimated that in 1Q13 GDP will grow by about 0.3% under the baton of growth of exports and domestic consumption.

EK said last week that this year is depth of 7 euro area economies. The buck should reach economies Holland, Italy, Spain, Portugal, Greece, Cyprus and Slovenia. GDP of the euro area would fall by 0.3%.
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