In the European Commission's August survey the economic sentiment gauge rose 1.3 points to 98.4 in the euro area and 1.0 point to 98.2 across the European Union, moving both readings back close to their long-term average of 100. The employment expectations indicator reached 98.9 in the euro area and 99.0 in the European Union. Figures from the Federal Employment Agency show German unemployment rose to 3,061,000 in August and the rate reached 6.5 per cent.
In the European Commission's August survey the economic sentiment gauge tracked as the ESI rose 1.3 points to 98.4 in the euro area and 1.0 point to 98.2 across the European Union. Both readings moved back close to their long-term average of 100. The Commission survey covers industry, services, retail, construction and consumers, and lands as the euro-area policy debate sharpens ahead of the September meeting.[1]
The employment expectations indicator moved the same way, up 1.5 points from July to 98.9 in the euro area and 1.2 points to 99.0 in the European Union.[1]
Figures from the Federal Employment Agency show German unemployment rose by 54,000 in August to 3,061,000, taking the rate up 0.1 point to 6.5 per cent. The seasonally adjusted increase was just 4,000, and the total stands 36,000 above August last year. Agency head Nahles said the labour market again showed little movement beyond the usual seasonal pattern in August and that the subdued run of recent months continues. Underemployment at 3,674,000 sits 33,000 above a year ago; registered vacancies reached 656,000 and the BA-X index of labour demand held at 103 points.[2]
