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Germany Unemployment Rate 5.8% (consensus 5.8%) in Oct-23

- The unemployment rate in Germany reached 5.8% in October 2023, as expected, which is the highest level since May 2021.
- The current rate is 0.18 percentage points above the one-year average, which suggests some cyclical slackening in the labour market.

Germany Flash HICP Inflation 3.0% y-o-y (consensus 3.3%) in Oct-23

- Germany's flash headline inflation for October 2023 reveals a year-on-year increase of 3.0%, indicating a deceleration compared to the previous month's growth rate of 4.3%.
- The current inflation rate is significantly below the one-year average by 4.34pp and undershot expectations for 3.3%, suggesting subdued inflationary pressure in the German economy.

Germany Flash PMI Composite 45.8 (consensus 46.7) in Oct-23

- Germany's Flash PMI Composite for October 2023 indicates a slight surprise weakening of economic activity.
- The Manufacturing PMI was almost as bleak as expected at 40.7, but the services PMI dropped to 48.0.

Germany unemployment rate 5.7% (consensus 5.7) in Sep-23

- Germany's unemployment rate held steady at 5.7% in September 2023, aligning with consensus forecasts.
- Although the rate remained constant, it slightly surpassed the one-year average by 0.11%, hinting at a potential deterioration in the labor market compared to the previous year. The unemployment rate also stood significantly below the long-run average by 2.52%.