German Jobless Rises Unexpectedly Amid Economic Downturn

RTTNews | 630 days ago
German Jobless Rises Unexpectedly Amid Economic Downturn

(RTTNews) - Germany's unemployment rate rose unexpectedly in November as the economic downturn damped job creation, official data revealed on Thursday.

The jobless rate rose to 5.9 percent in November, while it was forecast to remain unchanged at 5.8 percent. The rate was the highest in two and a half years.

The number of people out of work increased by 22,000 after rising 31,000 in the previous month. Unemployment was forecast to climb 23,000.

The economic downturn continues to leave its mark on the German labor market, the Federal Employment Agency Chief Andrea Nahles said.

Employment is only growing slightly and the demand for labor is still declining, Nahles added.

Data showed that there were 733,000 job openings in November. But this was 90,000 less than a year ago.

Based on the results of the labor force survey, Destatis said that the unemployment rate remained unchanged at adjusted 3.1 percent in October.

Unemployment increased by 7,000 from the previous month to 1.36 million.

On an unadjusted basis, the jobless rate edged up to 3.1 percent in October from 3.0 percent in the previous year.

Another data from Destatis showed that retail sales growth exceeded expectations in October. Retail sales advanced 1.1 percent from a month ago, faster than the 0.4 percent expected gain.

Year-on-year, retail sales decreased 0.1 percent. Nonetheless, this was better than economists' forecast of 2.0 percent decline.

read more
Eurozone Private Sector Expands At Fastest Pace In 15 Months

Eurozone Private Sector Expands At Fastest Pace In 15 Months

Eurozone private sector expanded at the fastest pace in 15 months in August on stronger growth in manufacturing output despite challenges posed by U.S. trade tariffs. The HCOB flash composite output index climbed more-than-expected to 51.1 in August from 50.9 in July, survey results from S&P Global revealed Thursday. The score was seen at 50.7.
RTTNews | 5h 53min ago
Eurozone Trade Surplus Declines Sharply In June

Eurozone Trade Surplus Declines Sharply In June

The euro area trade surplus declined sharply in June as exports remained weak amid a rebound in imports, official data revealed on Monday. The trade balance registered a surplus of EUR 7.0 billion compared to May's surplus of EUR 16.5 billion, Eurostat reported. Compared to last year, the surplus contracted by EUR 13.7 billion from EUR 20.7 billion.
RTTNews | 3 days ago
Eurozone GDP Rises 0.1% As Estimated

Eurozone GDP Rises 0.1% As Estimated

The euro area economy grew at a marginal pace in the second quarter as initially estimated, and companies generated jobs modestly, official data showed on Thursday. Another data from Eurostat showed that industrial production remained weak in the second quarter as the positive impact from frontloading of orders from the US faded.
RTTNews | 7 days ago
German ZEW Economic Confidence Deteriorates On Trade Deal

German ZEW Economic Confidence Deteriorates On Trade Deal

Economic sentiment in Germany deteriorated sharply in August due to the disappointing trade agreement reached with the United States, and also due to the declining economic output in the second quarter, results of the monthly survey conducted by the think tank ZEW showed on Tuesday. The ZEW Indicator of Economic Sentiment plummeted to a three-month low of 34.7 in August.
RTTNews | 9 days ago
German Industrial Output Declines Most In 11 Months

German Industrial Output Declines Most In 11 Months

Germany's industrial production logged its biggest fall in nearly a year in June, data from Destatis revealed on Thursday. Industrial output decreased 1.9 percent on a monthly basis in June, worse than the economists' forecast of 0.4 percent drop. This was the biggest fall since July 2024.Production for May was revised down from the initially estimated 1.2 percent increase.
RTTNews | 14 days ago
German Exports Recover In June

German Exports Recover In June

Germany's exports grew for the first time in three months in June despite falling shipments to the US, data from Destatis revealed Thursday. Exports advanced 0.8 percent on a monthly basis in June, reversing a fall of 1.4 percent in May. Shipments were expected to rise 0.5 percent. Reflecting the impact of higher tariff, exports to the United States dropped 2.1 percent on a monthly basis.
RTTNews | 14 days ago
Eurozone Retail Sales Recover In June

Eurozone Retail Sales Recover In June

Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter, official data revealed on Wednesday. Retail sales grew 0.3 percent on a monthly basis in June, offsetting May's 0.3 percent decline, Eurostat said. However, this was marginally weaker than economists' forecast for a 0.4 percent increase.
RTTNews | 15 days ago
German Factory Orders Log Unexpected Fall

German Factory Orders Log Unexpected Fall

Germany's factory orders declined unexpectedly in June on a notable fall in demand from non-EU countries, figures from Destatis revealed on Wednesday. New orders fell 1.0 percent month-on-month in June, confounding expectations for an increase of 1.0 percent. The fall was also sharper than the 0.8 percent decrease posted in May. When large-scale orders are excluded, new orders were 0.5 percent.
RTTNews | 15 days ago