Germany is no longer the great, immune growth engine of Europe.It’s still probably the most fiscally stable, but finally the weakness of its neighbours is catching up.
The number of unemployed “unexpectedly” jumped by 10,000 in October. Analysts had been predicting 10,000 fewer unemployed.
The jobless rate inched up to 7.0% from 6.9%.
Wne you add in the sub-50 PMI report, what you see is an economy that’s no longer growing, though still outperforming its neighbours.