German Unemployment Rate Rises to 5.4% in July

German Unemployment Rate Rises to 5.4% in July

Germany’s seasonally adjusted unemployment rate marginally rose to 5.4% in July from 5.3% in June, official data showed Friday. The latest reading was in line with the consensus estimate. Unemployment increased by 48,000 people in July, compared with 133,000 climbs in June.

Elsewhere, Germany’s flash gross domestic product stood still in the second quarter, down from a 0.2% growth in the first quarter, the national statistics office Destatis said Friday.

The latest reading fell short of the market estimate of 0.1%. On a yearly basis, GDP climbed 1.4%, compared with the previous 3.8% rise and missing the 1.7% growth consensus.

# German Unemployment Rate Rises to 5.4% in July