The Takeaway: Germany unemployment increases 19 k, despite expectations for autumn 10 K-> positive labour said that the trend of the market were outweighed by slowing of the economic-> Euro drops dynamic as weak Manufacturing PMI also comes
Unemployment increased unexpectedly in April by a people of 19 000 seasonally adjusted to 2.87 million. The rise in unemployment is much greater than the expectations of analysts, for the rate of fall by 10,000 people. According to Nuremberg on the Federal Labour Agency, the current unemployment rate now stands at 6.8%, compared to 6.7% in March.
The positive trend on the labour market was offset by the loss of momentum in the economy, according to the Federal Labour Agency President Frank - Juergen Weise.
The weak employment data were released at the same time that the German PMI manufacturing survey came in lower than expected. High unemployment will generally not be consumer spending and drag down economic growth, and signs of this morning of a slowdown in the economy are because of anxiety over the European debt crisis.
EUR/USD has been a free fall in the half hour before the figures of unemployment, as weaker that expected data PMI came Italy and France. The Euro continued to weaken after release of employment, to the low 1.3155 last week.
Unemployment increased unexpectedly in April by a people of 19 000 seasonally adjusted to 2.87 million. The rise in unemployment is much greater than the expectations of analysts, for the rate of fall by 10,000 people. According to Nuremberg on the Federal Labour Agency, the current unemployment rate now stands at 6.8%, compared to 6.7% in March.
The positive trend on the labour market was offset by the loss of momentum in the economy, according to the Federal Labour Agency President Frank - Juergen Weise.
The weak employment data were released at the same time that the German PMI manufacturing survey came in lower than expected. High unemployment will generally not be consumer spending and drag down economic growth, and signs of this morning of a slowdown in the economy are because of anxiety over the European debt crisis.
EUR/USD has been a free fall in the half hour before the figures of unemployment, as weaker that expected data PMI came Italy and France. The Euro continued to weaken after release of employment, to the low 1.3155 last week.
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