German unemployment and state inflation rise in September
EWG•Seasonally adjusted unemployment rose by 12,000 to 3.01 million, while inflation increased in five German states, pointing to a rise in the national rate. Retail sales rose 1.3% in August, less than expected.
1. Unemployment rises
Germany’s seasonally adjusted jobless figure rose by 12,000 to 3.01 million in September, compared with analysts’ expectations for a 1,000 increase. The jobless rate held at 6.4%. Labour office head Andrea Nahles said the autumn pickup in the labour market had started sluggishly and that economic improvement was not yet reaching the labour market.
2. Inflation and spending
Inflation rose in five German states in September, with preliminary data pointing to a higher national headline rate and little change in core inflation. Economists polled by Reuters forecast a harmonised national rate of 3.2%, up from 2.9% in August. Retail sales rose 1.3% in August from the previous month, less than expected.
