- German statistical Office Destatis
The number of unemployed in Europe's number one economy decreased more-than-expected in the tenth month of the year, while the unemployment rate remained flat. According to the Federal Labor Agency, the number of people out work declined a seasonally adjusted 5,000 to reach 2.788 million. Analysts were expecting a drop of 4,000. The unemployment rate stayed unchanged at 6.4%, the lowest level in 25 years. Data from a separate report published by the statistical office Destatis revealed that the number of jobless Germans fell by 7,000 or 0.5% in the prior month to 1.82 million in total. The ILO unemployment rate remained steady at 4.5%.
With regards to the German consumer price index that measures the country's cost of living, it rose by 0.3% on an annual basis in October, outdoing the expected increase of 0.2% from September's 0.0%. The harmonized consumer price index for Germany advanced 0.2%. The Spanish consumer prices, on the other hand, demonstrated a decline for the third month in a row in October. The country's CPI tumbled 0.7% year-on-year, surpassing analysts' forecasts of a 0.6% decrease. The HICP dipped 0.9% on year in October, slower than the 1.1% fall in the preceding month. The figure was also in line with economists' expectations.
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