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Surprise jobless rate boost for Germany

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Surprise jobless rate boost for Germany

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Unemployment is down slightly in Germany, bringing a small measure of good news for the country amid the unrelenting euro crisis gloom.

The rate for November fell by 20,000, four times more than had been forecast.

It does not look much in percentage terms – down to 6.9 from 7 percent in October – but it is still a figure many other EU countries would be envious of. However, analysts are warning the reprieve may be temporary and that the effects of slowing economic growth will likely push unemployment up in the coming months.

Retail sales also rose unexpectedly in October, giving another boost to Berlin ahead of the Christmas shopping spree. But here again experts warn of a downturn in the months ahead.

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