World Economic outlook - German Unemployment rate november 2011 : German retail sales rose 0.7% in October following a 0.3% rise in September. The annual rate dipped back into negative territory down 0.4% from +0.6% previously. The monthly increase was the second consecutive rise and the largest since June.
German Unemployment decreased more than expected declining 20k in November, more than off setting the previous month’s 6k rise which had been the first increase since June 2009. The unemployment rate also reversed the tick higher in October falling back to 6.9%.
The German labour market remains robust in the face of the ongoing deterioration in the wider Eurozone but given the lagging nature of the labour market, softness is likely to appear in the data in early 2012. Eurozone wide unemployment nudged higher to 10.3% in October from 10.2% taking it to the highest level since June 1998.
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