German unemployment unexpectedly increased for the first time in six months amid signs of a slowdown in Europe’s largest economy that could weigh on the fragile euro-area recovery.
Chancellor Angela Merkel’s coalition backed a 159 billion-euro ($217 billion) pension package that boosts benefits for mothers and allows retirement at age 63 after a revolt in her Christian Democratic bloc faded.
Germany’s economic growth in the first quarter was driven exclusively by internal demand, highlighting the uneven nature of the euro area’s recovery.
The European Central Bank is considering holding its meetings to set interest rates every six weeks instead of monthly, according to four people familiar with the discussions.
Mario Draghi can look for clues from euro-area companies this week on whether the region needs more stimulus to counter economic risks from low inflation to geopolitical tension.
The euro-area unemployment rate held near a record, even as manufacturing grew at the fastest pace in three months, adding to mixed signals about the 18-nation currency bloc’s recovery.
Mario Draghi can study an array of data this week to help him track his latest policy metric: economic slack.
U.K. retail sales unexpectedly rose in March as warm weather boosted spending on spring clothing, adding to evidence the economy gained momentum in the first quarter.
German investor confidence fell for a fourth month in April, highlighting the risks to the recovery in Europe’s largest economy.
"The recovery remains a largely creditless one."
- Christian Schulz on May 28, 2014
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