- Deutsche Postbank AG
Unemployment in Germany, the Euro zone's most powerful economy, dropped to its lowest level on record in March of this year, the Federal Labour Agency in Nuremberg said on Tuesday. As country's economy is returning back as the region's powerhouse, its labour market is showing clear healthy signs. Unemployment rate decreased to as low as 6.4%, even though analysts projected the indicator to remain unchanged at the previous mark of 6.5%. The total number of people out of work fell by 15,000 to 2.8 million, also better than estimated 12,000. In addition to that, Germany's business and consumer confidence is gaining ground, meaning that the country should register a solid growth in the first quarter of this year. Bundesbank, the country's central bank, pointed out in its latest monthly report that German GDP has probably increased sharply during first three months of 2015.
In the meantime, consumer prices in the single currency area remained in red in March, still being affected by oil prices that fell considerably during past nine months. Annual inflation was released at –0.1%, thus posting a positive change on a monthly basis, up from –0.3% in February. Alongside, the core reading stayed flat at 0.6%. Moreover, unemployment rate in the Euro area was published worse than estimated as it stayed close to the record high level at 11.3% in February.
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