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German unemployment has unexpectedly fallen for the first time in 10 months in January,...

German unemployment has unexpectedly fallen for the first time in 10 months in January, declining 16,000 to 2.92M vs consensus for a rise of 8,000. The jobless rate dropped to 6.8% from 6.9% in December. "The German labor market is in a good position," says SocGen economist Anatoli Annenkov. "Wages are fairly robust and inflation is coming down. Real income is growing and domestic demand may help the economy to expand again in the first quarter." (PR)
Comments (2)
  • schatzl
    , contributor
    Comments (385) | Send Message
     
    Funny what SocGen has to say, but that analyst is completely off.

     

    Today the German retail numbers for the most important month December were released with an "unexpected" decrease of -4.7%. Real wages have been completely flat for the last 13 years. The only thing making Germany grow for all those years has been growth in exports. The € is radically distorting the German economy and making it completely dependent on exports. This isn't going to end well.
    31 Jan 2013, 07:38 AM Reply Like
  • divinecomedy
    , contributor
    Comments (463) | Send Message
     
    Well I think the Germans can grow as long as there's enough exports to offset the drop in domestic demand, but don't worry the Yen will take care of it pretty soon enough, after that we'll move to the REAL Euro crisis.
    31 Jan 2013, 09:08 AM Reply Like
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