The unemployment figures in Germany slightly rose in November, compared to the previous month, the official data revealed on Thursday.
The unemployment figures rose by 10,000 in November, a report from the German labour agency (Bundesagentur fuer Arbeit) confirmed. The unemployment rate came in at 6.9% on a seasonally basis.
The report covered the registered unemployed, which is defined as a person who is temporarily without a job or work for less than 15 hours per week and expected to be available for placement activities by any employment agency for basic security benefits.
A reading from the international Labour Organization for October showed that the unemployment rate in Germany remained unchanged compared to 5.2% in September. The unemployment figures rose by 20,000 and reached 41.864 million, according to the data.
Germany saw its growth expand by 0.3% in the third quarter, compared to 0.7% seen in the previous quarter.
“Final consumption expenditure of households and of government was somewhat higher than in the previous quarter,” the German statistics office stated. “Also, there was an increase in gross fixed capital formation both in machinery and equipment and in construction compared with the second quarter of 2013.”
“The balance of exports and imports, however, had a downward effect on GDP growth. While imports continued to increase, exports were less dynamic when compared with the previous quarter,” the office added.
Germany’s manufacturing sector rose in November, while the services sector also showed an improvement, the flash data showed.
Germany’s flash Purchasing Managers’ Index (PMI) for the manufacturing sector edged 52.5 points high in November, up from the previous reading of 51.7 seen in October. While the flash reading for the services sector advanced to 54.5 points in November, up from 52.9 points seen in October.
“November’s survey suggests that the German economy has built up a head of steam through the final quarter of 2013 and is well on track to achieve growth of close to 0.5% for the calendar year. There are also signs that solid growth momentum should be sustained over the months ahead, as new business received by private sector firms increased at the steepest pace for almost two-and-a-half years,” Senior economist at Markit , Tim Moore, stated in the release.
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