German unemployment rose by 2,000

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Wednesday, Sep 30 2015

German unemployment unexpectedly rose in September in a sign that Europe’s largest economy is not immune to risks from slowing growth in emerging markets. Joblessness increased a seasonally adjusted 2,000 to 2.795 million, the Federal Labor Agency in Nuremberg said on Wednesday. Decrease by 5,000 was expected. The unemployment rate remained unchanged at 6.4%, the lowest level since German reunification. The number of people without work rose by about 4,000 in western Germany and fell by about 2,000 in the eastern part of the country, the data show.

Separate report, showed that retail turnover in August 2015 in Germany increased 2.5 % in real terms and also 2.5% in nominal terms compared with the corresponding month of the previous year. The number of days open for sale was 26 in August 2015 and 26 in August 2014, too. When adjusted for calendar and seasonal variations the August turnover was in real terms 0.4% and in nominal terms 0.3% smaller than that in July 2015. Analysts were anticipating 0.2% increase.

Euro is currently being traded around 1.1220 area. Pair is likely to find support below 1.12 handle and resistance above 1.1280 level. Later today, Eurozone CPI and Unemployment Rate figures are scheduled for a release.

More in this category: « Australian Building Approvals fell by 6.9% UK current account deficit at £16.8 billion »

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