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While the slight growth was welcome news in Germany, Destatis also said on Wednesday that inflation had risen slightly, from 1.6% in September — its lowest point for more than three years — back up to 2% for October, based on preliminary figures.
No bump in unemployment rate
Destatis also released figures on unemployment, which remained almost unchanged compared to the previous month at around 2.8 million people, or 6%.
Andrea Nahles, head of Germany’s Federal Employment Agency, said the usual autumn bump in employment figures “had failed to materialize this year.”
According to experts, this is the first time in 20 years that unemployment has not fallen noticeably in the last months of the year. However, in the long term, Germany’s unemployment figures remain relatively low.
The surprise expansion of Germany’s economy buoyed the growth of the eurozone, for which figures were also released on Wednesday.
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es/lo (dpa, Reuters)
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Publish date : 2024-10-30 05:43:00
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