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German wages boost


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German wages boost

German real wages which reflect their purchasing power rather than the actual money paid saw their biggest rise in more than three years. They increased by 1.8 percent in the third quarter compared to the same period in 2013.

Data from the Federal Statistics Office on Monday showed the average full-time worker in Germany earned 3,541 euros each month before tax and excluding any special payments.

Analysts believe the jump is a potential support for private consumption on which the government is banking to boost growth.

The low inflation rate which is much weaker than the average of the last 20 quarters is seen as the main reason.

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