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August 31, 2023
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Germany unemployment rate 5.7% (consensus 5.6) in Aug-23

- Germany's unemployment rate in August 2023 was 5.7%, slightly higher than market expectations, indicating some challenges in the labor market.
- Despite this marginal increase, the unemployment rate remains below the long-run average, suggesting a tight labour market.

August 30, 2023
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Germany HICP inflation 6.36% y-o-y (consensus 6.2) in Aug-23

- Germany's HICP inflation stood at 6.36% year-on-year in August 2023, surpassing market expectations of 6.2%, indicating persistent inflationary pressures.
- While the growth rate has moderated from the previous period, it remains considerably higher than the inflation target, signalling a continued problem for the ECB.

August 23, 2023
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Germany PMI manufacturing 39.1 (consensus 38.7) in Aug-23

- Germany's PMI manufacturing for August 2023 improved slightly to 39.1 from the previous month's figure of 38.8 (consensus 38.7), signalling a slight improvement but remaining far below the growth threshold of 50.
- The PMI reading of 39.1 is the highest level since June 2023, suggesting some improvement, but it still lags significantly behind the one-year average by 5.12 points.

August 23, 2023
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Germany PMI services 47.3 (consensus 51.5) in Aug-23

- The Germany PMI services crashed to 47.3 in August 2023, contrary to the 51.5 consensus, reaching the lowest level since November 2022.
- This decline is supported by other economic indicators such as weak GDP growth, stagnant unemployment rates, and negative economic sentiment.

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