German Unemployment Rises Most in Five Months as Consumer Spending Slows
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German unemployment rose the most in five months in August as stagnant consumer spending and the threat of slowing growth discouraged executives in Europe s biggest economy from hiring.
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Germany's unemployment rate falls in January, but retail sales are down, official data shows.
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Unemployment in Germany rises for the tenth straight month as growth remains sluggish despite a revival in domestic demand.
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Recovery of the German economy -- the biggest in the 12-country eurozone -- is feeding into jobs and unemployment has fallen below four million for the first time for four years.
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The German government is counting on job market reforms to lower unemployment in 2005, while predicting growth of at least 1.5 percent of gross domestic product (GDP), according to a draft report quoted by the Welt am Sonntag newspaper.
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German retail sales drop in July, while unemployment rises in August, official figures show.
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Widespread German price increases, including those of butter and electricity, are starting to weigh heavily on consumer confidence, a monthly poll by the GfK institute showed Friday.
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Consumer confidence in Germany, Europe s biggest economy, climbed to a six-month high as the winter holidays prompted shoppers to increase spending, the GfK market research company said.
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WASHINGTON -- Consumer spending rose in December by the most in five months, helping the economy weather a slump in manufacturing that extended into 2007.
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German business confidence slipped for a fourth month in five in September, suggesting rising oil prices and stagnant consumer spending may hold back the pace of growth in Europe s biggest economy.
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WASHINGTON - Consumer prices in October posted their biggest increase in five months, pinching people&#39;s pocketbooks at the gasoline pump and at the grocery store.
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Germany's stubbornly high unemployment rate spiked even higher in December to 10.8 percent, the Federal Labor Office reported Tuesday.
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The number of people looking for work in Germany, the biggest eurozone economy, rose to its highest level in seven years as the bad weather and sluggish growth caused dole queues to swell at the end of last year, official data showed.
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Consumer prices &#151; stoked by more expensive gasoline as well as pricier fruits and vegetables &#151; heated up in October, rising by 0.6 percent, the biggest gain in five months.
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Germany experienced the strongest growth in four years in 2004, but weak consumer spending continued to hamper Europe's largest economy, the government statistics office said Thursday.
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Companies in Germany's key manufacturing sector saw a rebound in orders in July, buoyed by strong demand for German-made goods both at home and abroad, official data showed.
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The ranks of the unemployed in Germany increased in October for the ninth straight month, the Federal Labour Agency said today in a report that threatened government efforts to shrink the public deficit.