German boost from jobs data

Harriet Green
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THERE was good news for Germany yesterday as unemployment fell for the first time in five months in December – by 15,000.

The jobless rate stayed steady at 6.9 per cent, yet the figures nonetheless beat expectations. But despite job creation throughout last year, unemployment has increased by 33,000 compared to a year ago.

“Strong labour market data raises the chances of stronger wage growth in 2014 and thus higher consumption,” said Berenberg’s Christian Schulz.