Wednesday, 2 April 2008

German Jobless Falls to 15 1/2-Year Low

German Jobless Falls to 15 1/2-Year Low; Italy Slows (Update1)

By John Fraher

April 1 (Bloomberg) -- German unemployment fell to the lowest since 1992 in March and manufacturing accelerated as Europe's largest economy helped the region cope with a global credit squeeze and weaker growth in Italy and Spain.

Germany's jobless rate declined to 7.8 percent from 8 percent in February, the Federal Labor Agency said today, and a Royal Bank of Scotland Group Plc index of German manufacturing rose to 55.1 this month from 54.3. Italian manufacturing contracted for the first time in three years and an index of Spanish factory activity was the weakest since December 2001.

German exports and corporate investment are helping to shore up growth across Europe as Italian manufacturers struggle to cope with a stronger euro and falling property prices curb growth in Spain. ...

Property Slump

``Germany and other northern European countries continue to see surprisingly strong performance in the face of current headwinds, while Mediterranean countries show a continuation of a worrying downtrend, especially Spain,''' said Royal Bank of Scotland chief euro-region economist Jacques Cailloux in an e- mailed note.

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Commentary

In the current situation with the aftermath of the subprime crisis originating in the US it seems a blessing that the German property market was not part of the property bubble of the last decade. There is solid development and opportunity for lucrative investment. The latest mega deal of Lone Star buying a portfolio of 1,300 properties from Deutsche Post shows the confidence of the financial sector in the German real estate market.

There are investments available at all levels. From a Buy to Let Investment Apartment at 40,000 Euro to apartment blocks between 600,000 Euro and 1.5 million Euro to mega deals.

Some of these you can find at www.Properties-in-Germany.de

Uwe Falkenberg


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