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MNI: GERMAN DATA: Unemployment (Jun 2019) Preview....>

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MNI: GERMAN DATA: Unemployment (Jun 2019) Preview - 08:55 BST
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- Bbg Consensus: 0K, 5.0%; MNI Median: +5K, 5.0%; Previous (May): +60K, 5.0%
- Markets expect the unemployment rate to hold steady in Jun after it rose in
May for the first time in over five years
- Recent survey evidence has been pointing to slowing employment growth as
business uncertainty keeps firms' expansion plans on hold 
- While May's German labour market data is the first sign of this materialising
in the hard data, the Federal Labour Agency pointed out that approx. 2/3 of the
increase was due to methodological reclassifications
- Moreover, at just 5%, the UE rate remains just a touch above its
post-reunification low of 4.9%
- Nevertheless, with increasing signs of contagion from the export-oriented
manufacturing sector to the domestically-oriented services sector...
- ... the June UE data will be closely watched to help ascertain whether the May
UE rise was just a blip or the start of an underlying cooling in the labour mkt

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