Economics
German Unemployment Drops as Economy Eases Euro-Area Burden
- Rate remains at 6.4%, lowest level since reunification
- PMI data signal manufacturing activity picked up in August
German August Adjusted Jobless Rate Unchanged at 6.4%
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German unemployment declined in August and manufacturing gained momentum, signaling that Europe’s largest economy will continue growing.
Joblessness fell a seasonally-adjusted 7,000 to 2.79 million, the Federal Labor Agency in Nuremberg said on Tuesday, and the unemployment rate remained at 6.4 percent. A Purchasing Managers’ Index for manufacturing rose to 53.2 from 51.8 in July, well above the 50 level that indicates expansion.