German wage increases lose speed as economy cools

Market news

24 June 2019

German wage increases lose speed as economy cools

German wages grew at a slower pace in the first quarter, the Federal Statistics Office said on Monday, reflecting a slowdown in Europe's biggest economy driven by a contraction in the export-dependent manufacturing sector.

Real wages rose by 1.2% on the year in the first quarter compared with 1.4% and 1.6% increases in the previous two quarters, data showed.

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