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قديم 08-28-2014, 03:45 PM   #1
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افتراضي Germany unemployment unexpectedly rises in August



Germany unemployment unexpectedly rose in August, damping hopes recovery in Europe’s biggest economy will gather momentum after a second-quarter drop.

The number of people looking for a job surged a seasonally adjusted 2,000 in August to 2.9 million, following a revised 12,000 rise in July. The reading defied analysts’ estimates of 5,000 drop.

A report released earlier this week showed that German business confidence plunged more than estimates in August on geopolitical tensions in Ukraine and low inflation in the euro area.

The business climate index retreated for a fourth straight month in August to 106.3 from 108.0 recorded in July, coming below forecast of 107.0, the IFO institute said on Monday.

The German economy dropped a 0.2 percent in the second quarter following a 0.7 percent expansion in the previous three months.

"A flurry of unfavorable news reports relating to the international environment have dampened Germany`s economic outlook in the second half of the year," the Bundesbank said in its monthly bulletin.

"Our current assessment is that the result for the year is likely to fall slightly short of what we expected in our June projection,`" Bundesbank President Jens Weidmann said.

Later in the day, Germany will face an inflation test when it releases its CPI figures for August, ahead of tomorrow’s inflation data for the euro area.
Hazem Ahlawy غير متواجد حالياً   رد مع اقتباس
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